The AI industry in the US and globally witnessed significant growth in 2024, with 49 startups securing funding rounds of $100 million or more. Three companies even raised more than one mega-round, and seven companies saw rounds exceeding $1 billion. The momentum from 2024 seems to be continuing into 2025, with multiple billion-dollar rounds already announced in the first half of the year. Compared to Q1 2024, the US has seen more AI mega-rounds closing in Q1 2025.
Here is a list of the top US AI companies that have raised $100 million or more this year:
June
1. Enterprise search startup Glean closed a $150 million Series F round on June 10, led by Wellington Management. The funding round saw participation from Sequoia, Lightspeed Venture Partners, and Kleiner Perkins, elevating Glean’s valuation to $7.25 billion.
2. Anysphere, the AI research lab known for AI coding tool Cursor, secured a substantial $900 million Series C round, valuing the company at almost $10 billion. Thrive Capital led the round, with participation from Andreessen Horowitz, Accel, and DST Global.
May
3. AI data labeling startup Snorkel AI announced a $100 million Series D round on May 29, valuing the company at $1.3 billion. Addition led the round, supported by Prosperity7 Ventures, Lightspeed Venture Partners, and Greylock.
4. LMArena, the community-driven benchmarking tool for AI models, raised a $100 million seed round on May 21, valuing the startup at $600 million. The round was co-led by Andreessen Horowitz and UC Investments, with Lightspeed Venture Partners, Kleiner Perkins, and Felicis participating.
5. Las Vegas-based AI infrastructure company TensorWave closed a $100 million Series A round on May 14. The round was co-led by Magnetar Capital and AMD Ventures, with Prosperity7 Ventures, Nexus Venture Partners, and Maverick Silicon also participating.
April
6. SandboxAQ secured a $450 million Series E round on April 4, valuing the AI model company at $5.7 billion. Investors included Nvidia, Google, and Ray Dalio from Bridgewater Associates, among others.
7. Runway, specializing in AI models for media production, raised a $308 million Series D round on April 3, valuing the company at $3 billion. General Atlantic led the round, with support from SoftBank, Nvidia, and Fidelity.
March
February
8. Together AI, focused on generative AI and AI model development infrastructure, closed a $305 million Series B round on February 20, valuing the company at $3.3 billion. The round was co-led by Prosperity7 and General Catalyst, with participation from Salesforce Ventures, Nvidia, and Lux Capital.
9. Lambda, an AI infrastructure company, raised a $480 million Series D round announced on February 19. Co-led by SGW and Andra Capital, the round valued the startup at nearly $2.5 billion, with Nvidia, G Squared, ARK Invest, and others participating.
10. Abridge, an AI platform transcribing patient-clinician conversations, hit a $2.75 billion valuation in a Series D round announced on February 17. IVP and Elad Gil co-led the $250 million round, with Lightspeed, Redpoint, and Spark Capital also contributing.
11. Eudia, an AI legal tech company, raised $105 million in a Series A round led by General Catalyst on February 13. Floodgate, Defy Ventures, Everywhere Ventures, and other investors participated in the round.
12. EnCharge AI, specializing in AI hardware, closed a $100 million Series B round on February 13. Tiger Global led the round, with Scout Ventures, Samsung Ventures, and RTX Ventures joining as investors.
13. Harvey, an AI legal tech company, secured a $300 million Series D round on February 12, valuing the company at $3 billion. The round was led by Sequoia, with participation from OpenAI Startup Fund, Kleiner Perkins, and Elad Gil.
January
14. ElevenLabs, focused on synthetic voice technology, raised a $180 million Series C round on January 30, valuing the company at over $3 billion. ICONIQ Growth and Andreessen Horowitz co-led the round, with Sequoia, NEA, and Salesforce Ventures as participants.
15. Hippocratic AI, developing large language models for healthcare, announced a $141 million Series B round on January 9, valuing the company at more than $1.6 billion. Kleiner Perkins led the round, with Andreessen Horowitz, Nvidia, and General Catalyst also investing.
Stay updated for more deals in the AI industry as the year progresses.
