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This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out last week’s biggest funding deal roundup here.
Venture funding has always been a world of haves and have nots. And these days, the haves are having more than ever. Case in point this week was Anthropic. The 5-year-old generative AI giant secured $65 billion in Series H funding this week, pushing its post-money valuation to a mind-blowing $965 billion.
After that, the next-biggest financing was a $1 billion round for AI software development tool maker Cognition, lifting its valuation to $26 billion. Companies in a range of other sectors also managed to secure sizable though smaller rounds, in areas including commerce logistics, developer AI, insurtech, fusion and more.
1. Anthropic, $65B, foundational AI: Generative AI company Anthropic raised $65 billion in a Series H funding round, more than doubling its post-money valuation to a staggering $965 billion. San Francisco-based Anthropic said Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital led the financing, and that Capital Group, Coatue, D1 Capital Partners, GIC, Iconiq Capital and XN co-led the investment.
2. Cognition, $1B, AI software development: Cognition, developer of AI software engineer Devin, has closed on over $1 billion at a $26 billion valuation. Lux Capital, General Catalyst, and 8VC 1 led the financing for the San Francisco-based company.
3. Stord, $250M, logistics: Atlanta-based Stord, developer of a fulfillment network, software and AI tools for independent brands, secured $250 million in Series F funding. The round set a $3 billion valuation for the 11-year-old company.
4. OpenRouter, $113M, AI for developers: OpenRouter, a marketplace for AI models, secured $113 million in Series B funding. CapitalG led the financing for the New York-based startup.
5. Corgi Insurance, $106M, insurtech: San Francisco-based Corgi Insurance, developer of an AI-native insurance platform for startups, picked up $106 million in Series B1 funding led by TCV. The financing, which set a $2.6 billion valuation, comes just three weeks after Corgi announced $160 million in Series B funding at a $1.3 billion valuation.
6. (tied) Thea Energy, $100M, fusion energy: Kearny, New Jersey-based Thea Energy, a developer of technology for fusion energy systems, raised $100 million in Series B funding led by US Innovative Technology Fund. Thea says the funding will go toward manufacturing infrastructure.
6. (tied) Garner Health, $100M, healthcare data: Garner Health, a platform for finding healthcare providers, closed on $100 million in Series E funding led by Index Ventures. The financing set a $2.74 billion for the New York-based company.
8. Observable Space, $90M, space tech: Observable Space, a space tech startup that develops and builds advanced optical systems, says it raised $90 million in Series A funding led by Lux Capital to scale manufacturing and develop its technology. The Santa Monica, California-based company also announced that it secured a $94 million contract with the U.S. Space Force.
9. Reactor, $59M, AI video: Reactor, a San Francisco-based developer platform for real-time generative video, emerged from stealth with $59 million in funding led by Lightspeed Venture Partners.
10. ClearNote Health, $52M, cancer detection: San Diego-based ClearNote Health, a developer of early detection and monitoring tests for multiple forms of cancer, picked up $52 million in Series D financing. Founding investor Mattias Westman led the round.
Methodology
We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of May 23-29. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.
Illustration: Dom Guzman
