Anysphere Stock: Will Cursor Debug the IPO Code?

Explore opportunities to invest in Anysphere stock before the IPO.  

Non-accredited investors can invest in pre-IPO companies like Databricks, OpenAI, Anthropic, and Anduril via the Fundrise Innovation Fund*. The minimum investment is $10. 

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Notable Anysphere News

03/18/2025: How Cursor is changing development
03/07/2025: Anysphere in Talks for Close to $10 Billion Valuation
01/16/2025: Series B and Automating Code
01/14/2025: Anysphere Raises $105 Million
Older news…

About Anysphere

Anysphere is the parent company that owns and operates the programming platform Cursor. Cursor is an AI-powered code editor designed to enhance developer productivity with code generation, intelligent autocompletion, and codebase understanding.

Anysphere was founded in 2022 by MIT alums and friends Michael Truell, Sualeh Asif, Arvid Lunnemark, and Aman Sanger.

The company emerged from their shared vision to revolutionize software development with AI integration.

Cursor stands out by integrating with multiple leading AI models like OpenAI’s GPT-4 and Anthropic’s Claude and its developer-friendly user interface, integrated chat, and debugging tools. 

The company’s rapid growth reached $100 million in annual recurring revenue (ARR) within only 12 months, marking it as one of the fastest-growing SaaS products ever.

Here’s an October 2024 conversation with the founding Anysphere team on the Lex Friedman Podcast. The video contains demos of how it works.  

Ownership

Anysphere is a venture-backed startup. Current equity owners include the founders, employees, and prominent venture capital firms. 

Venture capital investors include Andreessen Horowitz, Thrive Capital, Benchmark, Neo, OpenAI, Noam Brown (OpenAI), Patrick Collison (Stripe), Jeff Dean, Arash Ferdowsi (DropBox), and Nat Friedman (GitHub).

Funding Rounds

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Valuation

The latest confirmed Anysphere valuation is $2.5 billion based on the January 2025 Series B funding round. 

However, Bloomberg’s Katie Clark reported in March 2025 that Anysphere was raising new funds at a $10 billion valuation. 

IPO Potential

The Anysphere IPO date is currently unknown. As a SaaS with annual recurring revenue, analysts have standard models for evaluating financial metrics. 

As quickly as Cursor has grown ($100 million ARR in 12 months), it will need additional private capital to hire and expand services, functionality, and operations.

The competitive landscape for AI code generation is also expanding, requiring innovation and investment to stay ahead of the pack.

The Series C round, expected to close in Q2 2025, will provide additional capital for growth. Leadership has not disclosed its intent to go public or stay private, understandably focusing on growth at this early stage.

Watch for reporting about exploring a possible IPO with investment banks or filing a confidential S-1 filing with the SEC, though I don’t expect these steps to be taken in the next 24 months. 

Bookmark this page for the latest developments.

How to Invest in Anysphere Stock

Pre-IPO companies have become increasingly available to accredited and non-accredited investors through venture capital funds and secondary marketplace investing platforms.

But as Anysphere is still relatively young, pre-IPO shares are not yet widely available.

After the Series C closes, we expect to see more private market liquidity. 

1. Invest via pre-IPO marketplaces and funds

Shares may be offered for sale by early investors or employees before the IPO, especially if the company raises more venture capital.

At this early stage, however, employees are likely to see a growth opportunity and may retain equity. 

Accredited investors can monitor platforms such as Hiive, EquityZen, and Forge Global for the latest pre-IPO availability. 

Minimum investments range from $1,000 to $50,000 or more on these platforms, but inventory various greatly. 

Perform due diligence before investing, and consider the available valuations against multiple marketplaces for an accurate valuation. 

Signing up for online access to pre-IPO data, deal alerts, and expressing interest in currently unavailable startups is free.

Non-accredited investors have fewer options for pre-IPO investing in any company, let alone one specific startup. 

The Fundrise Innovation Fund (review) is one way to access pre-IPO stocks such as OpenAI, Anduril, Anthropic, and Canva, but Anysphere stock is not a holding in the fund. There’s a $10 minimum investment. 

The fund holds an unrelated company called Anyscale.

Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

Check out our list of top pre-IPO investing platforms for current share availability across platforms. 

2. Participate in the Anysphere IPO through a broker

Anysphere is still young. As it grows and matures, it may ultimately seek a liquidity event for investors via an IPO or acquisition. 

Venture capital firms are patient but will eventually encourage a mass liquidity event. IPOs serve this purpose.

If an IPO happens, most retail investors will not receive IPO shares. But savvy retail IPO investors may find opportunities to invest during the IPO when it arrives — acquiring shares at the IPO price the day before the stock begins trading on the open market. 

Once a privilege of the affluent clientele of Wall Street, IPO access has become increasingly accessible to retail investors.

The following online brokers give customers free access to IPOs, even with low account balances:

• TradeStation 
• Robinhood

Exclusive access to highly sought-after IPOs may be limited based on the type of brokerage accounts you hold and which brokerages have secured exclusive rights.

TradeStation has a longer track record of accessing more than 400 IPOs and secondary offerings via its partnership with Click Markets. 

But Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.

Read the S-1 filings to find mentions of these online brokers to find opportunities. 

Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.

3. Buy the stock after the IPO

Most investors will not acquire pre-IPO shares or receive an allocation during the IPO. 

Waiting for startups to become publicly traded companies can have advantages. The IPO filing provides investors with access to financial data, and each subsequent quarter paints a more complete picture. 

IPO stock prices typically rise with high-demand companies. You can benefit if you’re in early and sell when the price overheats.

Without IPO access, post-IPO investors may be tempted to acquire shares at inflated prices. 

Avoid chasing over-inflated share prices right after the IPO. Stock price declines after IPOs can be excellent entry points.

Be selective and patient. The most disruptive companies are likely to experience higher valuations a decade from now.

Frequently Asked Questions (FAQs)

Is Anysphere stock publicly traded?

No. Anysphere is a private company. 

What is the Anysphere stock symbol?

There is no Anysphere stock symbol yet because it is a private company.

Here are a few Anysphere ticker suggestions that are available in the U.S.: 

• ASPH
• ANYS

What is the Anysphere stock price?

A public Anysphere stock price does not exist because the company is private. 

As of late Q1 2025, secondary transaction data is unavailable. The company is too young and growing too fast for early investors to look to offload shares.

When the valuation increases, we should see transaction volume materialize.  

Where is the Anysphere S-1 Filing?

Anysphere has not released an S-1 filing to the public. There is no reporting of a confidential S-1 filing yet. 

News of a confidential or public S-1 filing would kick off the IPO process, suggesting the IPO could occur during the following months. 

I estimate the company is three to five years away from pursuing a public offering. 

When the company releases the S-1 filing to investors, we’ll link to and embed the document on this web page.

In the meantime, you can check out the most recent S-1 filings in our S-1 filings feed.

Anysphere News Archive

12/19/2024: Cursor raised another $100M at a $2.6B
08/22/2024: Series A and Magic

Conclusion

Anysphere’s rapid rise reflects the growing demand for AI-powered developer tools, but its long-term success hinges on more than just early momentum.

While Cursor is a developer-favorite tool for AI-assisted coding, competition in this space is intensifying, requiring continuous innovation and differentiation.

Their ability to continue a rapid growth trajectory while managing investor expectations will be a critical balancing act.

With young founders, venture capital firms will serve both as long-term investors and hand-holders, as the founders manage the technical business and identify support for managing business obligations. 

Private market investors will likely see increasing opportunities to participate in Anysphere’s growth as the startup’s valuation rises. However, valuation fluctuations and market conditions in the broader AI product markets (e.g., LLMs and hardware) could introduce volatility.

In the meantime, the company founders can focus on scaling the core product, expanding its market reach, and refining its technology platform. Whether as a private or public entity, Anysphere’s trajectory will be a compelling case study of how AI-native startups navigate hypergrowth and transition into sustainable, long-term enterprises.

Investors curious about investing in Anysphere stock must exercise patience until a secondary marketplace develops. Early investors are not ready to cash out yet; they are eager to participate in the rapid growth of an accelerating technology trend.