Menlo Ventures’ Matt Murphy explains why Anthropic is winning (and it’s not the model)

Anthropic's revenue hit an annualized run rate of forty-seven billion dollars by May—five times what the company did in twenty twenty-five. TechCrunch reports that Menlo Ventures' Matt Murphy, who led Anthropic's five hundred million dollar Series D funding round, says this is unprecedented: the fastest growth he's witnessed in twenty-five years of investing through the internet boom, mobile era, and first cloud wave. And Murphy's argument, having watched the company since it was pre-revenue, is that what's driving the win isn't the model itself.

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