Cursor has reportedly surpassed $2B in annualized revenue

AI coding assistant near the cursor crossed $2 billion Annual revenue is a metric calculated by multiplying the latest month’s revenue by 12, according to a Bloomberg source. The four-year-old startup has seen its revenue growth rate double in the last three months, this person says.

This revelation appears to have been made to counter the recent wave of skepticism. last week, tweets went viral Those questioning whether cursor movement was stalling cited high-profile defection by individual developers to competing tools – notably Anthropic’s Cloud Code.

Founded in 2022, Cursor initially sold its product primarily to individual developers. However, in the past year it has focused more on bringing in larger corporate buyers, which now account for about 60% of revenue, according to Bloomberg.

While some individual developers and small startups have cursor switched from Towards cloud code, which is seen as more competitively priced, it attracts higher spending corporate customers who tend to stay for longer periods of time.

Beyond cloud code, OpenAI’s coding tool Codex is also competing for share in the rapidly growing market for AI-assisted software development. Other startups in this space include Ripple, Cognition and Lovable.

Last time the cursor was evaluated $29.3 billion When it raised a $2.3 billion fund co-led by Accel and Coatue in November.

Cursor did not immediately respond to our request for comment.