Thrive Holdings has raised more than $2 billion in new funding at a $12 billion valuation as it expands its model of acquiring traditional service businesses and rebuilding their workflows around AI. The round includes new investors D1 Capital Partners, Altimeter Capital, and SoftBank Group, bringing total capital raised since the company’s formation to more than $3 billion.
Thrive Holdings was spun out of Thrive Capital and currently focuses on accounting and information technology services. In its official funding announcement, the company said the new capital will also support expansion into services connected to physical infrastructure.
The company now operates more than 70 businesses across its platforms. Current, its accounting operation, includes more than 50 firms and 2,000 professionals, while Shield has built a network of IT services companies.
AI Tools Show Early Results Across Accounting and IT
Current has developed self-improving tax agents called TaxAI, which Thrive says have processed more than 7,000 tax returns with 98% accuracy. The company said participating firms reduced tax preparation times by more than 30%.
Shield has applied a similar approach to managed IT services. Thrive said its AI systems have increased help desk resolution speeds by as much as 36 times, while the number of custom AI agents deployed across Shield doubled during the previous month.
Thrive Holdings also has a close relationship with OpenAI, which took an ownership stake in the company in December 2025. Under that agreement, OpenAI provides dedicated researchers and technical resources to work with Thrive companies on applying AI to workflows that remain heavily manual.
Thrive Expands Into Physical Infrastructure Services
Part of the new funding will support a third platform focused on regulatory services needed to approve, build, certify, and operate physical assets. The company sees opportunities across data centers, manufacturing, healthcare, energy, water, and transportation infrastructure.
Founding member Anuj Mehndiratta said these projects are often slowed by local, technical, and regulatory complexity. Thrive plans to use AI for work such as research, reporting, permit preparation, inspection documentation, and compliance tracking, while leaving field work and professional approvals to human specialists.
The approach reflects Thrive Holdings’ broader focus on industries where work remains fragmented and labor intensive. The company says it plans to own the businesses it acquires for the long term while keeping existing operators as owners and applying AI directly inside their workflows.
Featured image credits: Magnific.com
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