Thrive Holdings Raises $2 Billion to Deploy AI in Enterprises

Thrive Holdings, an OpenAI-backed firm that acts as a private equity company for AI, secured $2 billion in funding at a $12 billion valuation from investors including SoftBank, D1 Capital Partners, and Altimeter Capital. The company acquires traditional businesses in accounting and IT, integrating AI into their workflows through direct implementation by specialists. With over 70 companies in its portfolio, Thrive's accounting division (Current) has seen AI tax agents process over 7,000 tax returns at 98% accuracy while reducing preparation time by 30%, and its IT division (Shield) has accelerated help desk resolution times 36-fold. The funding will support expansion into physical assets, with OpenAI having taken an ownership stake and assigned employees to work alongside Thrive's teams.