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Anthropic
AI safety lab and maker of Claude. Major strategic capital from Amazon ($8B), Google ($3B+), and Lightspeed-led primaries. Employees hold RSUs and benefit from active secondary trading on Hiive and Forge.
Reviewed May 10, 2026 (6d ago)
Current estimate
4 methods · May 10, 2026High confidence (66%)
$180.1B
range $124.7B – $235.5B
Implied per-share: $237.0 · vs last primary +6%
Last primary round
$170B
Series F · 9mo ago
Secondary signal
$182.0B
Hiive · 2026-04+7%
Headcount
2,800
employees · LinkedIn+87%
Revenue (est.)
$5.5B
annual run rate
Complete company data
Every input we use, where we got it from, and how much we trust it.
| Field | Value | Confidence | |
|---|---|---|---|
| Company fundamentals | |||
| Sector | AI | high | |
| Headquarters | 🇺🇸 United States | high | |
| Founded | 2021 | high | |
| Website | anthropic.com | high | |
| Latest primary round | |||
| Post-money valuation | $170B | high | |
| Round name | Series F | high | |
| Date | 2025-08-12 (9 months ago) | high | |
| Lead investor | Lightspeed | high | |
| Amount raised | $5.0B | medium | |
| Capitalization | |||
| Total fully-diluted shares | 760M | low | |
| Implied share price (latest primary) | $237 | medium | |
| Primary equity type granted | RSU | high | |
| Financials | |||
| Annual revenue (est.) | $5,500M | medium | |
| EV / Revenue (implied) | 30.9x | medium | |
| Headcount | |||
| Employees (now) | 2,800 | medium | |
| Employees (12 months ago) | 1,500 | medium | |
| 12-month headcount growth | +87% | medium | |
| Methodology inputs | |||
| Sector ETF proxy | BOTZ | medium | |
| ETF annual return (trailing 3-yr) | 32% | medium | |
Funding history
Primary rounds reported in Bloomberg, WSJ, TechCrunch, Reuters, or SEC Form D filings (efts.sec.gov). Linked per round below.
Series F2025-08-12
$170.0BLed by Lightspeed · raised $5.0B
Source: TechCrunch Aug 2025
Series E2025-03-01
$61.5BLed by Lightspeed · raised $3.5B
Source: Bloomberg Mar 2025
Strategic2024-11-22
$40.0BLed by Amazon · raised $4.0B
Source: Reuters Nov 2024
Series D2024-05-01
$18.4BLed by Amazon · raised $2.8B
Source: TechCrunch
Series C2023-07-01
$4.6BLed by Spark Capital · raised $1.3B
Source: Reuters
Secondary market signals
Secondary market signals: bid/ask/trade indications from Hiive (hiive.com), Forge Global, Caplight Index, and tender prices reported in the press.
| Date | Type | Source | Price / share |
|---|---|---|---|
| 2026-04-18 | trade | Hiive | $240 |
| 2026-02-04 | trade | Forge | $232 |
| 2025-11-15 | bid | Hiive | $215 |
View live indications: Hiive ↗ · SEC Form D filings ↗
Public peer comparables
Public peer comparables: editorial selection of public companies with the closest business model. EV/Revenue and growth from public 10-Q filings and Bloomberg, refreshed quarterly.
| Ticker | Company | EV / Revenue |
|---|---|---|
| NVDA | Nvidia | 22x |
| PLTR | Palantir | 55x |
| CRWD | CrowdStrike | 18x |
| MDB | MongoDB | 11x |
| NET | Cloudflare | 14x |
Confidence breakdown
How much we trust each of the four valuation methods for this specific company, and why.
Method A — Peer-multiple
weight 35%→ $123.7B75% confidence
Growth-weighted peer EV/Revenue: 25.5x → 12% private-company discount → 22.5x on $5500M revenue
Method B — Secondary-implied
weight 25%→ $176.2B55% confidence
Recency-weighted average of 3 secondary indications (180-day decay)
Method C — Primary time-decay
weight 30%→ $236.6B70% confidence
$170B round (2025-08-12) × 2.31× growth × 0.96× multiple decay over 0.8 years — capped at 1.3× recent secondary ($182.0B → $236.6B)
Method D — Sector momentum
weight 10%→ $210.0B49% confidence
$170B × (1 + 32% p.j.)^0.8yr = $210.0B via BOTZ ETF-proxy
Overall confidence
66%
Weighted average of the four methods. Above 65% is high, 40–65% medium, below 40% low.
Worked example for an employee
A concrete walk-through using a hypothetical employee profile. Same engine the calculator uses — try it with your real numbers.
Profile: a hypothetical employee who joined Anthropic 24 months ago (2024-05-16) with 2,000 units, on the standard 4-year vesting schedule with a 1-year cliff.
Vesting
1,000 of 2,000
50% vested at month 24
Implied share price (mid)
$237
weighted average of 4 methods
Gross vested value
$236,989
vested shares × implied price
Net value
$236,989
no strike, gross = net
Tax (rough)
$53,523
US federal only · AMT risk: low
What if the next round is…
Up round +30%
$267,901
New round at +30% valuation, 15% new shares issued
Down round −30%
$138,244
New round at −30% valuation, 20% new shares (higher dilution in distress)
Secondary today
$201,441
Sale on the secondary market at the typical 15% discount to the mid estimate
These numbers come from the same engine as the live calculator. Walk through with your own grant: use your real numbers →
Transparent assumptions
What we assumed where exact data isn't available. If any of these don't match your situation, the numbers above will be off.
Fully-diluted share count
760M shares
We don't have authoritative cap-table access for private companies. The number above is reconstructed from SEC Form D filings, secondary-market price-vs-valuation math, and leaked share-class summaries. Actual fully-diluted count (including unvested option pool and SAFEs) may differ by 5–15%.
Common-stock waterfall
1.0× to common
We assume a clean common-stock outcome — i.e. preferred-share liquidation preferences and ratchets do not extract value before common. In a down-exit, this assumption can be very wrong: preferred stack can take 30–70% of proceeds.
Private-company illiquidity discount
12% off public peers
Applied to Method A (peer-multiple). Per-company because category leaders with deep secondary markets and a clear IPO path warrant a smaller discount than early-stage names. The literature range is 10–35%; for Anthropic we use 12% based on secondary-market depth, valuation history, and proximity to liquidity.
Revenue growth assumption (Method C)
200% YoY
Compounded forward from the last primary date to today to estimate the company's value drift. Set per-company based on disclosed or reported ARR trajectory. Method C is further capped at 1.3× the most recent secondary trade (if any) to stop runaway extrapolation when revenue growth outpaces what the market is actually paying.
Sector ETF momentum (Method D)
BOTZ @ 32%/year
Method D applies the trailing return of BOTZ as a market-proxy adjustment to the primary valuation. Crude — meant as a tiebreaker when peer and secondary data conflict, not as a primary signal.
Outlier auto-downweight
Methods >50% from median get ½ weight
Robust-statistics safety net: any method whose output strays more than 50% from the median of the other three methods has its confidence weight halved when computing the blended mid-point. Prevents a single bad extrapolation from dragging the headline.
Recency decay for secondary trades
180-day half-life (e⁻ᵈ/¹⁸⁰)
A trade from 30 days ago counts ~5× more than one from 180 days ago. Tunable; some platforms use shorter half-lives.
Tax estimate
US federal only, single filer
Uses 2024 US federal brackets, ignoring state tax, NIIT, AMT credit recovery, and any other deductions. Treat as a directional sanity check, not a tax bill.
All data from public sources. Not investment, tax, or legal advice. Not affiliated with Anthropic. Last refreshed manually — see methodology for our update cadence.