Anthropic leaped to a $47 billion revenue run rate by May,：https://techcrunch.com/2026/07/08/these-ai-startups-are-growing-revenue-at-faster-and-faster-rates/ compared to $9 billion in 2025. It’s the kind of growth that Menlo Ventures’ Matt Murphy：https://menlovc.com/team/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, pre-launch bet to one of the most valuable startups out there.
On this episode of TechCrunch’s Equity：https://techcrunch.com/podcasts/equity/ podcast, Julie Bort talks with Murphy about backing Anthropic before anyone else would, why a great model was never the point, and what’s driving the fastest-growing startups he’s ever seen.
Listen to the full episode to hear more about:
Theresa Loconsolo is an audio producer at TechCrunch focusing on Equity, the network’s flagship podcast. Before joining TechCrunch in 2022, she was one of 2 producers at a four-station conglomerate where she wrote, recorded, voiced and edited content, and engineered live performances and interviews from guests like lovelytheband. Theresa is based in New Jersey and holds a bachelors degree in Communication from Monmouth University. You can contact or verify outreach from Theresa by emailing theresa.loconsolo@techcrunch.com：mailto:theresa.loconsolo@techcrunch.com. View Bio ：https://techcrunch.com/author/theresa-loconsolo/ Julie Bort Venture Editor
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