capital
Menlo Ventures’ Matt Murphy explains what AI startups founders must do differently
July 22, 2026
Menlo Ventures’ Matt Murphy says Anthropic’s revenue run rate jumped from $9 billion in 2025 to $47 billion by May, a scale of growth he says he has never seen in 25 years of investing. Menlo led Anthropic’s $500 million Series D, giving Murphy a front-row view of how AI startups now have to scale far faster than companies in the internet, mobile, or first cloud waves.
Anthropic leaped to a $47 billion revenue run rate by May, compared to $9 billion in 2025. It’s the kind of growth that Menlo Ventures’ Matt Murphy says he’s never seen in 25 years of investing, not in the internet wave, not in mobile, not in the first cloud boom. Menlo led Anthropic’s $500M Series D, and Murphy has had a front-row seat as the company went from a pre-revenue, […]
Source: techcrunch.com