On Thursday, Anthropic closed the second-largest venture funding round in history, a $30 billion Series G at a $380 billion valuation. The round came just five months after Anthropic’s $13 billion Series F at a $183 billion valuation, meaning the company has doubled its valuation in less than half a year. Anthropic has raised a total of $63.7 billion in just five years since its founding in 2021.
The company’s revenue growth has been equally rapid. As Anthropic noted in its blog post announcing the Series G, “it has been less than three years since Anthropic earned its first dollar in revenue”. In January 2023, it had $0 in revenue. By January 2024, this had increased to $100 million, which reached $1 billion by January 2025. This week, the company reached $14 billion in run-rate revenue. It attributed its revenue growth to Anthropic’s “position as the intelligence platform of choice for enterprises and developers.”
This claim seems to be borne out by the data. Last week, we covered the release of Claude Cowork, which was so good that it caused a massive drawdown in the public software market. Meanwhile, Claude Code is rapidly gaining adoption, with SemiAnalysis noting recently that 4% of GitHub public commits are already being authored by Claude Code, and predicting that this would reach 20% by the end of 2026. Meanwhile, Ramp published a report this week which found that, among Ramp’s clients, Anthropic was having a “breakout month”. As Ramp described it, “Anthropic adoption grew from 16.7% to 19.5%, one of its largest monthly gains since we started tracking. Meanwhile, OpenAI adoption slipped from 36.8% to 35.9%, giving back some of last month’s gains.”
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