Hajra Naz
After a record-breaking 2024 for the AI industry, 2025 is shaping up to be just as formidable—if not more so. 49 AI startups raised $100 million or more in 2024, including seven billion-dollar mega-rounds and three repeat recipients of massive funding.
Now, just halfway through 2025, the U.S. AI ecosystem is already buzzing with even more momentum. The first quarter of 2025 alone saw more U.S.-based mega-rounds than the same period in 2024. Several startups have already crossed the billion-dollar mark in a single raise. Below is a running list of all U.S.-based AI startups that have raised $100 million or more in 2025 so far, showcasing which companies are leading the next wave of AI innovation.
June 2025
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Glean: The enterprise search company raised a $150M Series F on June 10, led by Wellington Management, with Sequoia, Lightspeed, and Kleiner Perkins participating. Valuation: $7.25B.
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Anysphere: Known for its AI coding assistant Cursor, the startup raised a staggering $900M Series C, valuing it at nearly $10B. Investors include Thrive Capital, a16z, Accel, and DST Global.
May 2025
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Snorkel AI: The data-labeling leader closed a $100M Series D, valuing it at $1.3B. Addition led the round with Lightspeed, Greylock, and Prosperity7 joining.
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LMArena: This benchmarking tool for AI models secured a $100M seed round, co-led by a16z and UC Investments. Valuation: $600M.
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TensorWave: Based in Las Vegas, this AI infrastructure company landed a $100M Series A from Magnetar Capital, AMD Ventures, and others.
April 2025
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SandboxAQ: Raised $450M in Series E, valuing the firm at $5.7B. Notables like Nvidia, Google, and Ray Dalio participated.
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Runway: The generative media startup behind AI-powered video tools secured $308M Series D, led by General Atlantic. Valuation: $3B.
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March 2025
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OpenAI: The most dominant name in AI secured a record $40B funding round, valuing the company at $300B. Led by SoftBank, with Microsoft, Thrive Capital, and Coatue participating.
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Nexthop AI: Infrastructure-focused startup raised $110M Series A from Lightspeed, Battery Ventures, and others.
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Insilico Medicine: Based in Cambridge, it closed a $110M Series E for AI-powered drug discovery. Valuation: $1B.
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Celestial AI: Raised a $250M Series C, led by Fidelity, valuing the company at $2.5B.
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Lila Sciences: The science intelligence platform raised a $200M seed round, backed by Flagship Pioneering and General Catalyst.
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Reflection.Ai: Aiming to build superintelligent autonomous systems, it secured $130M Series A, now valued at $580M.
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Turing: The AI coding startup raised $111M Series E, now valued at $2.2B.
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Shield AI: Raised $240M Series F for its AI defense tech. Valuation: $5.3B.
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Anthropic: Closed a $3.5B Series E, led by Lightspeed. Valuation: $61.5B.
February 2025
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Together AI: Raised $305M Series B, co-led by Prosperity7 and General Catalyst. Valuation: $3.3B.
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Lambda: Raised $480M Series D for AI infrastructure. Valuation: $2.5B.
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Abridge: AI for healthcare documentation. Raised $250M Series D, valued at $2.75B.
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Eudia: Legal AI startup raised $105M Series A, led by General Catalyst.
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EnCharge AI: AI hardware company raised $100M Series B, backed by Tiger Global and Samsung Ventures.
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Harvey: Legal AI company raised $300M Series D, now valued at $3B.
January 2025
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ElevenLabs: Synthetic voice company raised $180M Series C, valuation at over $ 3 B. Investors include ICONIQ and a16z.
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Hippocratic AI: Specializing in healthcare LLMs, the company raised a $141M Series B, led by Kleiner Perkins—valuation: $1.6B+.
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What This Means for the AI Landscape in 2025
The rapid pace of mega-rounds and high valuations this year suggests that investor confidence in AI is far from cooling off. From foundational model builders and infrastructure players to healthcare and legal tech disruptors, the diversity of AI applications continues to attract capital at historic levels.
Several trends stand out:
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Infrastructure is booming: Companies like Lambda, Celestial AI, and TensorWave show a strong demand for AI compute and architecture solutions.
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Enterprise and developer tools are thriving: Glean, Snorkel, and Turing point to AI’s growing influence in business productivity.
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Healthcare and legal AI are red-hot: Startups like Abridge, Hippocratic, Harvey, and Eudia are attracting major backing as AI finds its footing in regulated industries.
With only half the year gone, and major players like OpenAI, Anthropic, and Anysphere already locking in billions, 2025 is on track to rival — and possibly surpass — 2024’s explosive growth in AI startup funding.
