TL;DR
Anduril has raised $5 billion in a Series H funding round, increasing its valuation to $61 billion—more than double last year’s. The defense tech company experienced significant revenue growth and continues expanding internationally amid competitive government contracts.
Anduril has raised $5 billion in a Series H funding round, boosting its valuation to $61 billion, according to the company and confirmed by its investors. This marks a significant increase from its previous valuation of $30.5 billion less than a year ago, reflecting strong investor confidence amid rapid revenue growth and expanding defense contracts.
The funding round was led by returning investors Thrive Capital and Andreessen Horowitz, with Andreessen Horowitz participating again after its previous investment. The round brings Anduril’s total funding to over $11 billion. The company reported a revenue of $2.2 billion in 2025, doubling from the previous year, as CEO Brian Schimpf highlighted in a blog post. The new valuation of $61 billion more than doubles the $30.5 billion valuation from last year, when Founders Fund invested $1 billion—the largest check it had ever written, at the time. Despite the company’s rising profile, the Department of Defense has shown a willingness to diversify its defense technology suppliers. While Anduril secures multiple contracts, the U.S. military has also awarded contracts to other firms like Shield AI, which recently received a $1.5 billion Series G funding round at a $12.7 billion valuation. Moreover, Anduril has announced recent contracts outside the U.S., including a space-based missile defense system with the U.S. government, a contract with the Dutch Ministry of Defense, and a U.S. Army deal for battle management software using its Lattice platform.
Why It Matters
This development underscores the rapid growth and investor confidence in the defense technology sector, especially among startups that have historically struggled to attract venture capital. The doubling of Anduril’s valuation signals strong market interest and potential for influence in national security and defense innovation. The company’s expanding international footprint and multi-contract wins suggest it is positioning itself as a key player amid increasing global defense competition. However, it also highlights the U.S. Department of Defense’s approach to diversifying suppliers, which could influence future opportunities and partnerships for Anduril and similar companies.
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Background
Founded in 2017, Anduril has quickly risen as a prominent defense technology firm, attracting significant venture capital investment. Its recent revenue growth and contract wins have positioned it as a leader among U.S. startups in the defense space. The firm’s valuation has more than doubled in less than a year, reflecting broader trends of increased VC interest in defense tech. Other startups like Shield AI and Hermeus have also secured large funding rounds recently, indicating a broader surge in defense startup investment. The U.S. Department of Defense’s approach to procurement remains competitive, with multiple firms sharing contracts, which may influence how Anduril and its peers expand their government business.
“When we founded Anduril in 2017, defense was not a category that attracted significant venture investment. That has changed meaningfully over the last several years.”
— CEO Brian Schimpf
“This funding round demonstrates the confidence investors have in Anduril’s growth trajectory and technological leadership.”
— a venture investor involved in the round
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What Remains Unclear
It is not yet clear how the Department of Defense’s procurement strategies will evolve and whether they will favor firms like Anduril over competitors. The impact of international expansion on future contracts remains uncertain, as does the company’s ability to sustain its rapid revenue growth.
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What’s Next
Next steps include the company’s deployment of new contracts, further international expansion, and potential additional funding rounds. Monitoring how the Department of Defense and other government agencies allocate their defense budgets will be key to understanding Anduril’s future growth trajectory.
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Key Questions
What does the $61 billion valuation mean for Anduril?
The valuation reflects investor confidence in the company’s growth, technology, and market position in defense tech, making it one of the most highly valued startups in this sector.
How does this funding round compare to previous rounds?
This round more than doubles the previous valuation of $30.5 billion from last year, indicating rapid growth and increased investor interest.
What are Anduril’s main areas of focus now?
Anduril is expanding its defense contracts globally, including missile defense systems, autonomous drones, and battle management software, with a focus on integrating hardware and software solutions.
Will the Department of Defense continue to work with multiple firms?
Yes, the DoD has shown a tendency to diversify its defense suppliers, which could benefit firms like Anduril while also fostering competition.
