Thrive Holdings, a firm that buys traditional businesses and embeds AI into their workflows, has raised $2 billion at a $12 billion valuation from investors including SoftBank, D1 Capital Partners, and Altimeter Capital. The company is a spinout of Thrive Capital and has a close relationship with OpenAI, which took an ownership stake in December 2025 and sends employees to work with Thrive’s portfolio companies to accelerate AI adoption.

Thrive has focused on two verticals: Current (accounting) and Shield (information technology). Current’s tax AI agent, TaxAI, processed over 7,000 tax returns at 98% accuracy and reduced tax preparation time by over 30%. Shield’s AI products sped up help desk resolution times by 36x and doubled the number of custom AI agents deployed in the last month. The company now spans more than 70 businesses on its platform.

Part of the new funding will go toward a third vertical focused on regulatory services for physical assets—covering data centers, manufacturing, healthcare, power, water, and transportation infrastructure. Thrive aims to use AI to ease manual workflows like research, permit preparation, and compliance tracking, while noting that AI will not replace field work, local judgment, or professional sign-off.