Last Year’s Record-Breaking Trends Continue in 2025 for AI Industry
Last year was a monumental year for the AI industry in the U.S. and beyond.
There were 49 startups that raised funding rounds worth $100 million or more in 2024, per our count at TechCrunch. Three companies raised more than one “mega-round” last year, and seven companies raised rounds at $1 billion or larger.
How will 2025 compare? It’s still early in the year but the number of U.S. AI companies that have raised more than $100 million is almost in double digits, and there has already been one round larger than $1 billion.
Here are all the U.S. AI companies that have raised more than $100 million so far this year:
March
- AI research and large language model company Anthropic raised $3.5 billion in a Series E round that valued the startup at $61.5 billion. The round was announced on March 3 and was led by Lightspeed with participation from Salesforce Ventures, Menlo Ventures, and General Catalyst, among others.
February
- Together AI, which creates open source generative AI and AI model development infrastructure, raised a $305 million Series B round that valued the company at $3.3 billion. The February 20 round was co-led by Prosperity7 and General Catalyst with participation from Salesforce Ventures, Nvidia, Lux Capital, and others.
- Lambda, an AI infrastructure company, raised a $480 million Series D round that was announced on February 19. The round valued the startup at nearly $2.5 billion and was co-led by SGW and Andra Capital. Nvidia, G Squared, ARK Invest, and others also participated.
- Abridge, an AI platform that transcribes patient-clinician conversations, was valued at $2.75 billion in a Series D round that was announced on February 17. The $250 million round was co-led by IVP and Elad Gil. Lightspeed, Redpoint, and Spark Capital also participated, among others.
- Eudia, an AI legal tech company, raised $105 million in a Series A round led by General Catalyst. Floodgate, Defy Ventures, and Everywhere Ventures also participated in the round in addition to other VC firms and numerous angel investors. The round closed on February 13.
- EnCharge AI, an AI hardware startup, raised a $100 million Series B round that also closed on February 13. The round was led by Tiger Global with participation from Scout Ventures, Samsung Ventures, and RTX Ventures, among others. The Santa Clara-based business was founded in 2022.
- Harvey, an AI legal tech company, raised a $300 million Series D round that valued the 3-year-old company at $3 billion. The round was led by Sequoia and announced on February 12. OpenAI Startup Fund, Kleiner Perkins, Elad Gil, and others also participated in the raise.
January
- ElevenLabs, a synthetic voice startup, raised a $180 million Series C round that valued the company at more than $3 billion. It was announced on January 30. The round was co-led by ICONIQ Growth and Andreessen Horowitz. Sequoia, NEA, Salesforce Ventures, and others also participated in the round.
- Hippocratic AI, which develops large language models for the healthcare industry, announced a $141 million Series B round on January 9. This round valued the company at more than $1.6 billion and was led by Kleiner Perkins. Andreessen Horowitz, Nvidia, and General Catalyst also participated, among others.
Conclusion
The AI industry has continued to see significant investment in 2025, with numerous companies raising large funding rounds. As the industry continues to evolve, it will be interesting to see which companies emerge as leaders in their respective fields.
FAQs
Q: What was the largest funding round in the AI industry in 2024?
A: AI research and large language model company Anthropic raised $3.5 billion in a Series E round.
Q: Which AI companies have raised more than $100 million so far in 2025?
A: The list above includes all U.S. AI companies that have raised more than $100 million in 2025.
Q: What was the largest funding round in the AI industry in January 2025?
A: Synthetic voice startup ElevenLabs raised a $180 million Series C round.
