Anduril funding, valuation and business dashboard
Anduril is a private company. Its shares are not publicly traded. Valuations come from private funding rounds, and revenue figures are company-stated rather than audited public filings. Nothing here is investment advice.
Funding rounds
| Date | Round | Raised | Valuation | Led by | Source |
|---|---|---|---|---|---|
| May 2026 | Series H | $5B | $61B | Thrive Capital, Andreessen Horowitz | Anduril |
| Jun 2025 | Series G | $2.5B | $30.5B | Founders Fund | nbcsandiego.com |
| Aug 2024 | Series F | $1.5B | $14B | Founders Fund, Sands Capital | Anduril |
| Dec 2022 | Series E | $1.48B | $8.48B | Valor Equity Partners | Anduril |
| Jun 2021 | Series D | $450M | $4.6B | Elad Gil | Anduril |
| Jul 2020 | Series C | $200M | $1.9B | Andreessen Horowitz | fortune.com |
| Sep 2019 | Series B | Not disclosed | $1B | Andreessen Horowitz | en.wikipedia.org |
Earlier seed and Series A rounds (2017-2018) were smaller and are omitted.
Reported, not confirmed
- Reported July 24, 2026: Reuters reported Anduril was in talks to raise money at a valuation of about $100 billion, possibly in two stages tied to financial benchmarks. Anduril said no decisions had been made. Source
Key customers (public)
- U.S. Army
- U.S. Air Force
- U.S. Navy & Marine Corps
- U.S. Special Operations Command
- U.S. Customs and Border Protection
- Royal Australian Navy & Air Force
- UK Ministry of Defence
- Taiwan
- NATO (evaluation)
Strategic risks
Program concentration
A few large U.S. programs (CCA, NGC2, border towers, counter-drone) drive much of the growth story. A cut or delay in any of them would matter.
Execution at scale
Arsenal-1 and the Barracuda/Fury production plans promise volumes Anduril has not yet demonstrated publicly. Manufacturing ramps are where many hardware companies stumble.
Budget and politics
Defense budgets, continuing resolutions and shifts in Pentagon leadership can change priorities quickly. The company's founders are politically visible, which can cut both ways.
Competition
Traditional primes are adopting faster, cheaper approaches, and other well-funded startups (Shield AI, Saronic, Helsing, Epirus and others) compete for the same budgets.
Valuation expectations
Private-market valuations have risen faster than revenue. Future rounds, or an eventual IPO, would test whether public investors agree.
Ethics and export controls
Autonomy in weapons, surveillance work and international sales draw scrutiny and can trigger new rules or customer hesitation.