REASONS TO INVEST

Monetization & Commercial Growth

In December 2024, Anthropic reported $1 billion in annualized revenue, up nearly 10x year-over-year.⁴ The company expects that traction to continue, projecting that it could potentially stop burning cash and reach $34.5B in revenue by 2027.⁷

Strong Backing from Major Strategic Investors

Anthropic has raised over $13B from key tech enterprises and investors, including $8B from Amazon, $3B from Google, and a reported $2B VC round raised at a $60B valuation.³ The company is also the “primary cloud and training partner” for Amazon Web Services⁸ and signed a “large cloud contract” with Google.⁷

Leadership in A.I. Safety
The rapid advancement of AI has raised concerns among experts and policymakers, with risks ranging from large-scale disinformation to AI-enabled cyberwarfare.⁵ Anthropic has been praised for its “proactive” approach to developing trustworthy AI, ensuring that AI models are “developed and deployed safely” as they grow more powerful.⁶

Competitive Position in Explosive Gen A.I. Market
Generative AI is in hot demand across sectors, with Bloomberg projecting a $1.3T market by 2032.⁹ With a focus on safety-first AI, Anthropic’s Claude models have proven particularly popular among enterprise clients and could attract further interest from governments, financial institutions, and other companies in highly regulated industries.

There is no guarantee the revenue and valuation continue to grow

FURTHER RESEARCH

1. Sacra Equity Report: Anthropic

2. Tech Crunch: Anthropic Reportedly in Talks to Raise $2B at $60B Valuation, Led by Lightspeed

3. Tech Monitor: UK To Assess AI Integration in Public Services Through Anthropic Partnership

4. Venture Beat: Snowflake Expands AI Tools With Anthropic Partnership

5. Tech Crunch: Anthropic’s Next Major AI Model Could Arrive Within Weeks

The information may not be accurate or complete and has not been independently verified. See footnote 10.

NOTABLE INVESTORS

Below are notable investors in the company, alongside other significant investments they have made in similar sectors.

Annapurna Labs, One Medical, Rivian, X-Energy

Apptronik, TAE Technologies, QuEra, R2, Tempus AI, Pixxel

1Password, Airtable, Databricks, DocuSign, Dropbox, Monday.com, Stripe, Zoom

Affirm, Carta, Epic Games, Glean, Haus Laboratories, Navan, Rubrik, ThoughtSpot

Industry: Artificial Intelligence Research & Safety

Employees: 500

Website: https://www.anthropic.com/

Total Raised to Date: $12.19B

This valuation is in connection with offerings of Preferred Stock and based on the prices of the Preferred Stock at that time. Series Anthropic owns Membership Interests in an SPV with indirect economic interests in Anthropic, PBC.. Unless otherwise indicated, the information herein is based on information obtained from Pitchbook and Forge Intelligence. This information is from publicly available sources, and we do not guarantee its accuracy or completeness. Past performance and valuations are not indicative of future results, and investors should not assume that investments in Series Anthropic will increase in value. Valuation is not static and can fluctuate based on various factors. See full details in footnote 2.

EXECUTIVE TEAMDario Amodei | Co-Founder, CEO 15
Before co-founding Anthropic, Dario was Vice President of Research at OpenAI, where he led the development of GPT-2 and GPT-3. He also held research positions at Google and Baidu, and has a B.S. in Physics from Stanford, and a Ph.D. in Physics from Princeton.

Daniela Amodei | Co-Founder, President 16
Prior to co-founding Anthropic, Daniela served as Vice President of Safety and Policy at OpenAI, overseeing technical safety and policy functions. She also held leadership roles at Stripe.

Jared Kaplan | Co-Founder, Chief Science Officier 17
Before co-founding Anthropic, Jared was a professor of physics at Johns Hopkins University, focusing on theoretical physics and contributing to AI research. He played a significant role in developing the scaling laws for large language models, and contributed to building GPT-3 and Codex at OpenAI.

Mike Krieger | Chief Product Officer 18
Mike co-founded Instagram, where he served as Chief Technology Officer, leading the development and scaling of the platform. He joined Anthropic to oversee product development and strategy.

TERMS

What am I purchasing?

Company: Series 38-1 (“Series Anthropic”), a series of StartEngine Private LLC

Security: Membership interests

Price Per Security: $90.00

Affiliate Purchase Price per Security: $60.83

Number of Membership Interest available in this tranche: 40,000

Offering Materials: See Private Placement Memorandum, Corporate Documents, and Risks Related to the Offering

Affiliate Purchase Price per Security: $60.83

What securities will be owned by the Series?

Portfolio Company Name: Anthropic, PBC.

Security Type: Special Purpose Vehicle (“SPV”) Interests with indirect economic interest in Series E-1 Preferred Shares

Number of Shares to be Purchased in this Tranche: up to 40,000 shares

The value of the offered interests may not be directly equivalent to those of the existing shares of Anthropic, PBC. and may have differing material rights, including a carried interest fee of 20%. Series Anthropic has the right to purchase additional interests in its sole discretion and purchase additional interests of the underlying company. Assuming no reorganization or other corporate events in the underlying company, there will be 1-1 correspondence between the number of interests owned by Series Anthropic and the number of shares in the Series outstanding.

This offering is not eligible for any bonus shares. Any reference to bonus shares or similar terms should not be interpreted as an offer or entitled to bonus shares.

DISCLAIMERS

1. Anthropic, PBC. (“Anthropic”) is not participating or involved in this offering. The availability of company information does not indicate that the company has endorsed, supports or otherwise participates with StartEngine Private LLC or any of its affiliates. StartEngine Private LLC purchases shares from current and former employees, early investors, and advisors of the company. When you make an investment in a company on StartEngine Private, you are purchasing an interest in a series of StartEngine Private LLC, a Delaware limited liability company (the “Series LLC”), which was created to hold shares of a privately held company. An investor will not directly own or hold shares of the private company but instead will own member interests in a series of the Series LLC, which either directly or indirectly, will hold shares in the company. There may not be a one-to-one economic parity on the value of the Series LLC interests and Anthropic shares.

StartEngine Advisers LLC manages the Series LLC and reports as an exempt reporting advisor (“ERA”) to the Securities and Exchange Commission, which is an investment advisor that is not required to register as a registered investment advisor (“RIA”).

The underlying securities of Series Anthropic offered herein are subject to restrictions on transferability and resale including a Right of First Refusal ("ROFR"). As such, Anthropic has the first right to purchase the securities should Series Anthropic wish to sell or transfer them. This may affect the ability of Series Anthropic to dispose of the securities. Before investing, potential investors should carefully read the offering documents and consult with their advisor to understand the implications of these restrictions.

Series Anthropic holds economic interests of Anthropic through indirect ownership via Special Purpose Vehicle (“SPV”) interests. There may not be a one-to-one economic parity on the value of the Series LLC interests and the underlying shares. Before investing, potential investors should carefully read the offering documents and consult with their advisor to understand the implications of these indirect investments.

Expenses, including those for disposing of SPV interests, extraordinary expenses, transaction fees (including brokerage fees), administration fees, and insurance fees, will be the responsibility of Series Anthropic. These expenses may reduce the amount you receive from a liquidation or distribution event. Additionally, StartEngine Primary LLC representatives may earn commissions for providing recommendations to investors in connection with this offering.

2. Unless otherwise indicated, the information on this webpage and our marketing materials for Series Anthropic is sourced from Pitch Book and Forge Intelligence as of February 14, 2025, a website that maintains a record of the company’s funding rounds, along with their corresponding pre- and post-money valuations. As information on the company, including the valuations, are sourced from publicly available information, we do not guarantee their accuracy or completeness. The data and information may be subject to errors, omissions, or changes over time, and we are not responsible for any inaccuracies in the data and information provided. All the information contained on this page is derived from publicly available data and information, and has not been independently verified by us or any of our affiliates. This information should not be considered as financial or investment advice. Before making any investment decision you should consult your own financial, investment and tax advisors.

3. Source: Chris Metinko, “The Week’s Biggest Funding Rounds: Anthropic Leads Slow, Slow Week,” Crunchbase News, January 24, 2025

4. Source: Hayden Field, “Google Agrees to New $1 Billion Investment in Anthropic,” CNBC, January 22, 2025

5. Source: Center for AI Safety, “An Overview of Catastrophic AI Risks,” Accessed February 14, 2025

6. Source: Michael Nuñez, “Anthropic Just Made It Harder for AI To Go Rogue With Its Updated Safety Policy,” VentureBeat, October 15, 2024

7. Source: Reuters, “Anthropic Sees Revenue Potentially Soaring to $34.5 Billion in 2027, the Information Reports,” February 12, 2025

8. Source: Hayden Field, “Amazon To Invest Another $4 Billion in Anthropic, OpenAI’s Biggest Rival,” CNBC, January 7, 2025

9. Source: Mandeep Singh, Anurag Rana, et al., “Generative AI Races Toward $1.3 Trillion in Revenue by 2032,” Bloomberg Intelligence, March 8, 2024

10. The links provided are for informational purposes only. The presence of the links on this page does not imply endorsement by the respective websites and the accuracy or completeness of the information presented cannot be guaranteed.

11. Sources: Jason Verge, “Amazon Buys Stealthy Israeli Chip Startup Annapurna Labs,” Data Center Knowledge, January 23, 2015; Amazon, “Amazon and One Medical Sign an Agreement for Amazon to Acquire One Medical,” July 21, 2022; Wikipedia, “Rivian,” Accessed February 14, 2025; ESG Today Writing Staff, “Amazon-backed X-Energy Raises $700 Million to Accelerate Small Modular Nuclear Technology,” ESG Today, February 6, 2025

12. Sources: William Gavin, “A Google-Backed Startup Raised $350 Million To Create a Future Where Humans and Robots Are ‘True Partners’,” Quartz, February 13, 2025; Catherine Clifford, “Google and Chevron Invest in Nuclear Fusion Startup That’s Raised $1.2 Billion,” CNBC, July 19, 2022; Ingrid Lunden, “Google-Backed Boston Quantum Startup QuEra Raises $230M Debt Round,” TechCrunch, February 11, 2025; Carolina Millan, “Google-Backed R2 Raises $59 Million in Equity, Debt for Lending,” Bloomberg, November 28, 2024; Riley de León, “Google-Backed Tempus AI Closes First Day of Trading Up 9% in Nasdaq Stock Market Debut,” CNBC, June 14, 2024; Reuters, “Google-Backed Pixxel Successfully Launches India’s First Private Satellite Constellation,” January 14, 2025

13. Source: Salesforce Ventures, “Our Portfolio,” Accessed February 14, 2025

14. Source: Lightspeed Venture Partners, “Founder Spotlight: Bipul Sinha,” Accessed February 14, 2025

15. Source: Dario Amodei, “Dario Amodei,” Accessed February 14, 2025

16. Source: Evgenia Kuzmenko, “The Inspiring Journey of Daniela Amodei, Anthropic’s Leader,” Kitrum Blog, July 3, 2024

17. Source: The Hertz Foundation, “Jared Kaplan, PhD,” Accessed February 14, 2025

18. Source: Anthropic, “Mike Krieger joins Anthropic as Chief Product Officer,” Anthropic Blog, May 15, 2024

This Reg D offering is made available through StartEngine Primary, LLC, and sold only to accredited investors through general solicitation. An accredited investor is an individual or entity that meets specific home or net worth requirements as defined by the Securities and Exchange Commission.

The securities being offered have not been registered under the Securities Act of 1933 or any state securities laws and are being offered and sold in reliance on exemptions provided by Regulation D.

This offering is speculative and illiquid, and investors should be prepared to hold the securities for an indefinite period. Investing in securities involves risk, and there is the possibility of losing your entire investment. Neither StartEngine nor its affiliates provide investment advice or recommendations, nor do they offer legal or tax advice regarding any securities.

Investors should carefully review all offering documents, including the private placement memorandum, subscription agreement, and any other relevant materials before making an investment decision.

The AI Startup With $13B+ Raised to Take On OpenAI