New capital to bring frontier AI to critical industries

Today, we’re announcing over $2 billion in new capital at a $12 billion valuation from our institutional partners along with new outside investors including D1 Capital Partners, Altimeter Capital, and SoftBank. That brings our total capital raised to more than $3 billion since inception.

Over the past year, we’ve put AI transformation into practice within the more than 70 businesses we own and operate. Our engineers work directly with the practitioners inside these businesses to understand how the work actually gets done, then build and deploy AI products around their workflows. These products are already live in daily operations, helping to serve tens of thousands of customers.

The new capital gives us the resources to help scale our model across our existing platforms in accounting and IT services. We’re also launching a new platform focused on the technical and regulatory work required to get essential infrastructure approved, built, certified, and kept in long-term operation.

The built environment services market has exactly the characteristics we look for. It is large and fragmented, the work is mission-critical, and we believe its operational complexity creates clear opportunities for AI to improve customer outcomes. We want to make it easier to modernize and build America’s physical infrastructure.

We are still early, and there is much more to do. Our ambition is to build the platforms and products that bring frontier AI into the critical industries millions of businesses and individuals depend on every day.