Coding assistant Cursor raises $2.3bn five months after its previous round

In Brief

Developer AI coding instrumentality Cursor continues to gobble up task superior arsenic its valuation keeps climbing.

On Thursday, Cursor announced a $2.3 cardinal backing circular that valued the institution astatine $29.3 billion, arsenic primitively reported by the Wall Street Journal. This circular much than doubles the company’s erstwhile valuation of $9.9 billion, which it achieved successful its $900 cardinal Series C round successful June.

This astir caller fundraise was led by co-led by Accel, an existing investor, and Coatue, which is caller to the headdress table. Strategic investors including Nvidia (an endeavor customer) and Google (an AI exemplary supplier) besides joined the round.

Joshua Kushner’s Thrive Capital led the company’s anterior 2 rounds and participated successful this circular arsenic well.

Cursor’s co-founder and CEO Michael Truell told the Wall Street Journal that the superior from the circular volition beryllium enactment toward processing Composer, an AI exemplary released by Cursor successful October.

Cursor inactive relies connected extracurricular AI models from companies including Google, OpenAI and Anthropic to powerfulness its platform, but the program is for Composer to transportation immoderate of that load successful the future.

Next twelvemonth could beryllium a precise absorbing 1 for Cursor. While the institution is inactive seeing beardown growth, OpenAI and Anthropic are some sharpening their AI coding products arsenic the marketplace for AI improvement tools continues to get much competitive.

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