Technology
There is a surge in investor enthusiasm for AI coding assistants.
Anysphere, the creator of the AI-driven coding assistant Cursor, is currently negotiating with venture capitalists to secure funding at a valuation nearing $10 billion, as reported by Bloomberg.
If this round occurs, it would be approximately three months after Anysphere completed its previous fundraising of $100 million at a pre-money valuation of $2.5 billion, as first reported by TechCrunch.The upcoming round is anticipated to be spearheaded by returning investor Thrive Capital.
Neither Thrive Capital nor Anysphere responded immediately to requests for comments.
while Anysphere’s previous funding valued the firm at 25 times its $100 million ARR (according to The New York Times), investors appear more inclined now to assign even higher multiples to rapidly expanding companies.Anysphere’s current annualized recurring revenue (ARR) may have already surged to $150 million, The Details stated, suggesting that if the new deal materializes it could represent an astonishing 66 times ARR.
Anysphere isn’t alone in attracting such high valuations from backers.
Codeium , which develops the AI coding editor Windsurf , is seeking funds at a valuation close to $3 billion , TechCrunch reported last month . Kleiner Perkins , leading Codeium’s funding round , values the company around 70 times an ARR of about $40 million .
AI technology is evolving most rapidly within coding tools , surpassing its application in sales , law , healthcare and other industries according to investors .
Recently , investors have been engaging with Poolside , another AI-driven coding firm that’s also developing its own LLM ; sources tell TechCrunch and The Information . Poolside did not respond promptly when asked for comments.
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