Thrive Holdings raises $2 billion at a $12 billion valuation to expand its AI-focused platform for traditional businesses. The Thrive Capital spinout, in which OpenAI holds a stake, operates Current, with more than 50 accounting firms, and Shield, with around 20 IT companies. Funding also supports a third platform for regulatory services tied to physical assets; Thrive reports TaxAI has processed more than 7,000 returns at 98% accuracy, while Shield’s AI speeds help-desk resolution 36x.
Base Power raises $1 billion in a Series D at a $13 billion post-money valuation to expand its network of backyard batteries. It has installed more than 500 megawatt-hours of storage and is deploying about 100 batteries daily, while introducing Base Core, a 39.2-kilowatt-hour home battery built in Austin. The company operates in Texas and Illinois, offers batteries by subscription, and sells stored electricity to the grid during periods of high demand.
Ramp says it has reached $1 billion in annualized revenue, up from $700 million in March—a $300 million increase in about six months. The corporate expense-management and financial-software company’s $500 million July funding round valued it at $22.5 billion, and it has raised $1.9 billion in total. Ramp is developing AI agent-led “autonomous finance” and has launched its first AI agent.