History
The company was incorporated in 2022 by Michael Truell, Sualeh Asif, Arvid Lunnemark and Aman Sanger while they were students at MIT. [1] In October 2023 the startup announced an US$8 million seed round led by the OpenAI Startup Fund, with angels including former GitHub CEO Nat Friedman and Dropbox co-founder Arash Ferdowsi. [1]
In November 2024 TechCrunch reported that Benchmark, Index Ventures and others were bidding up Anysphere's valuation to about US$2.5 billion, four months after a US$60 million Series A that had valued the company at US$400 million. [5]
In March 2025 the company was reported to be negotiating a round that would value it near US$10 billion. [6] On 5 June 2025, Anysphere confirmed a US$900 million Series C led by Thrive Capital, lifting its post-money valuation to US$9.9 billion. [2]
Anysphere crossed US$100 million in annual recurring revenue (ARR) in January 2025, and topped US$500 million ARR by June 2025. [7]
In April 2025, an AI help-desk program named "Sam" invented a non-existent login policy, triggering user cancellations before staff intervened and issued refunds. [8]
Products
Cursor is a fork of Visual Studio Code that adds AI-assisted software development functionality. [1] The editor integrates models from OpenAI, Anthropic, Google and xAI and, as of 2025, claims to generate close to one billion lines of code per day for more than one million daily users. Financial Times describes Cursor as a "Vibe coding" app. [9]
A July 2025 change to Cursor's US$20 Pro plan, switching from 500 requests to a usage-metered cap, provoked complaints about unexpected charges; the firm rolled back limits and promised refunds. [10]
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