Cursor-Maker Anysphere in Talks to Raise $1 Billion at $27 Billion Valuation
Coatue Management and Accel have been in talks to make major investments in Anysphere, which makes popular coding assistant Cursor, according to two people with direct knowledge of the discussions. Anysphere is planning to raise at least $1 billion in new capital at a $27 billion valuation before the investment, according to one of those people.
The deal, if closed, would be Coatue Management’s first known investment into the coding assistant startup. Accel, which has also backed Swedish coding startup Lovable, first invested in Anysphere at a $9.9 billion valuation in June. The deal would continue Accel’s strategy of doubling down on some of its growth-stage bets, as it has done with data labeling startup Scale AI and cloud cybersecurity firm Cyera. Details of the financing haven’t previously been reported.
The Information was first to report that investors have offered to finance Anysphere at roughly three times the valuation in its last round. The new funding would add to the approximately $800 million Anysphere has on its balance sheet, according to one of the people. The firm has been training its own models to power its assistant, driving up costs.