IndicatorThe maker of artificial intelligence (AI)-powered programming tools is looking to raise about $2 billion in a funding round that would value it at more than $50 billion, Bloomberg reports. I mentioned Friday (April 17), citing an unnamed source.
Discussions have reached an advanced stage, but they are ongoing and could change, according to the report.
Index did not immediately respond to a PYMNTS request for comment.
Bloomberg I mentioned In March, the company was seeking a $50 billion valuation. This report did not include the amount the index aims to raise.
Cursor launched its AI programming assistant in 2023, and the company has become one of the fastest-growing startups ever, according to a report Friday.
The company announced in November that it had a Series D valuation of $29.3 billion Financing round It raised $2.3 billion.
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In that time, she said she has experienced rapid expansion, growing her team to 250 people and exceeding $1 billion in annual revenue. The company said it serves “millions of developers.”
“We believe that programming will be the biggest driver of global productivity over the next decade, and our mission is to accelerate this progress,” Cursor Co-Founder and CEO Michael Trull he said in the November press release.
Cursor announced in a February press release that it had hired a former address President and Chief Revenue Officer Brian McCarthy As Head of Global Revenue and Field Operations. The index said McCarthy will lead its global company Go to the market organized.
“Enterprise demand for Cursor has grown at an extraordinary pace,” said Cursor’s Chief Operating Officer Jordan Topoliski He said in a press release announcing the appointment. “As the world’s largest companies rethink how they build software, we are rapidly expanding to support our customers globally.”
In a February release, Cursor said its product is used by more than 50,000 engineering teams around the world, including nearly 70% of the Fortune 1000.
PYMNTS reported in June that Artificial intelligence coding assistants Enabling small teams to take on tasks that might otherwise cost a lot, as well as reducing development time for companies to bring products to market faster.
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