WorkThe story, in brief
Menlo Ventures’ Matt Murphy explains what AI startups founders must do differently
In 25 years, Matt Murphy has never seen growth like this. Here's what AI founders are doing differently.
The KeyNews take
Why it matters
A top-tier VC who backed Anthropic from $0 to $47B ARR shares contrarian insights on what separates AI unicorns from the rest—strategic takeaway for founders navigating the current funding environment.
The key facts
5 to knowAnthropic achieved $47B revenue run rate by May 2026
Anthropic grew from $9B ARR in 2025 to $47B in ~5 months
Growth rate unprecedented in VC's 25-year track record (internet, mobile, cloud)
Menlo Ventures led Anthropic's $500M Series D
Matt Murphy (Menlo Ventures partner) quoted as expert commentator on AI startup strategy
Go to the source
TechCrunch AItechcrunch.com
Publisher excerpt: 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…