Why Anthropic Is Winning, According to Menlo Ventures’ Matt Murphy
▼ Summary
– Anthropic reached a $47 billion revenue run rate by May, up from $9 billion in 2025.
– Menlo Ventures’ Matt Murphy says this growth is unprecedented in his 25 years of investing, surpassing the internet, mobile, and cloud booms.
– Menlo led Anthropic’s $500M Series D, and Murphy witnessed its rise from a pre-revenue startup to a highly valuable company.
– The TechCrunch Equity podcast episode discusses Murphy’s early backing of Anthropic and why a great model was never the main goal.
– The episode also explores what drives the fastest-growing startups Murphy has seen.
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Anthropic hit a staggering $47 billion revenue run rate by May, up from $9 billion in 2025. For Menlo Ventures’ Matt Murphy, that trajectory is unprecedented across 25 years of investing , surpassing the internet surge, the mobile revolution, and the first cloud boom. Menlo led Anthropic’s $500M Series D, giving Murphy an insider’s view as the company transformed from a pre-revenue, pre-launch gamble into one of the highest-valued startups on the planet.
On this episode of TechCrunch’s Equity podcast, Julie Bort sits down with Murphy to explore his early bet on Anthropic when few others would touch it. He explains why building a great model was never the real goal, and what qualities are fueling the fastest-growing startups he has ever witnessed.
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(Source: TechCrunch)
