Coding automation platform Cursor announced a $2.3 billion Series D funding round, reaching a $29.3 billion valuation—over triple its valuation six months ago. Founded in 2022 and based in San Francisco, Cursor now has a 300+ team and over $1 billion in annualized revenue, aiming to expand further. This surge reflects growing investor enthusiasm for AI-enabled coding startups. Other notable fundraisers include Cognition’s $400 million round at a $10.2 billion valuation and Replit’s $250 million Series C. The sector also sees active M&A, with acquisitions by Cursor’s parent Anysphere and Cognition. With these young startups scaling rapidly, IPOs may soon follow.
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