Cursor’s $2.3b raise made it worth $29.3b, up from $9.9b six months earlier, which prices a coding…
cursor’s $2.3b raise made it worth $29.3b, up from $9.9b six months earlier, which prices a coding assistant as a platform before its agents can finish a feature across a messy repo unaided. the market is paying for the possibility of distribution, not for what ships this quarter.
an uncomfortable fact to sit with while the next dev tool announces a round.
Context
Cursor's own post and Business Wire's release of November 13, 2025 announce a Series D of $2.3 billion at a $29.3 billion post-money valuation, with Accel and Coatue named as co-leaders in press coverage, existing investors including Thrive and Andreessen Horowitz, and new partners including Coatue, NVIDIA and Google. Cursor says it has crossed $1 billion in annualized revenue, with a team of over 300. Crunchbase's coverage of the same day calls the valuation more than 3x what parent company Anysphere had six months earlier, and the Wall Street Journal says nearly 12 times its January value.
The round is dated November 13, 2025, so it is not a new raise, and the post's $9.9 billion earlier valuation was not stated in the pages read, though Crunchbase's more than 3x in six months is consistent with it. The $1 billion revenue figure is Cursor's own. A valuation prices investor expectations and is not evidence of what the agents ship, so the market is paying for the possibility of distribution is the author's reading and the sources report only the numbers. The agents' ability to finish a feature across a messy repo unaided was not examined here.
Watch next
- Any later Cursor financing and independent revenue data.
Sources
Provenance
The note above is reproduced unedited from the original post, first published on Threads on 4 October 2026 at 22:32 IST. Sources are the papers and datasets the note draws on.
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