"On Thursday, Cursor announced a $2.3 billion funding round that valued the company at $29.3 billion, as originally reported by the Wall Street Journal. This round more than doubles the company's previous valuation of $9.9 billion, which it achieved in its $900 million Series C round in June. This most recent fundraise was led by co-led by Accel, an existing investor, and Coatue, which is new to the cap table."
"Strategic investors including Nvidia (an enterprise customer) and Google (an AI model supplier) also joined the round. Joshua Kushner's Thrive Capital led the company's prior two rounds and participated in this round as well. Cursor's co-founder and CEO Michael Truell told the Wall Street Journal that the capital from the round will be put toward developing Composer, an AI model released by Cursor in October."
Cursor raised $2.3 billion in a financing that valued the company at $29.3 billion, more than doubling its June valuation of $9.9 billion. The round was co-led by Accel and Coatue, with strategic participation from Nvidia and Google and involvement from Thrive Capital. The company plans to use the capital to develop Composer, an AI model released in October, while continuing to rely on external models from Google, OpenAI and Anthropic to power its platform. Composer is intended to assume some of that workload in the future. OpenAI and Anthropic are intensifying their AI coding products, increasing competition.
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