Anduril Raises $5 Billion, Doubles Its Valuation to $61 Billion
Anduril has raised a $5 billion Series H round at a $61 billion valuation, led by returning investors Thrive Capital and Andreessen Horowitz more than double the valuation it landed just under a year ago, when it raised $2.5 billion at a $30.5 billion valuation led by Founders Fund.
The milestone is hard to ignore. Anduril raises $5 billion valuation in what has become one of the most closely watched fundraising stories in the private markets, and the numbers behind it justify the attention. The company brought in more than $2 billion in revenue in 2025, roughly double 2024’s figure, and has nearly doubled its headcount over the same period.
Contracts, Drones, and a $20 Billion Army Deal
In March, Anduril signed a 10-year, $20 billion deal with the US Army for software products and AI-backed weapons, and the company said it was part of a consortium building Golden Dome a $185 billion space-interceptor missile system for the US government. Its Roadrunner-M interceptor drone has booked more than $350 million in orders, including a $250 million package for over 500 units bundled with Pulsar electronic-warfare systems.
CEO Brian Schimpf noted that when Anduril was founded in 2017, defense was not a category that attracted significant venture investment but that has changed meaningfully over the last several years. He is not wrong. In March, Shield AI raised $1.5 billion at a $12.7 billion valuation, while European defense firm Helsing is reportedly close to a new $1.2 billion round at an $18 billion valuation.
Defense tech companies have taken center stage in funding as investors move to capitalise on the opportunity created by the ongoing U.S.-Iran war, with abundant private capital also enabling companies to raise larger rounds and remain private for longer. Anduril has now raised more than $11 billion from investors altogether.
