THE PRIVATE LEDGERJoin our DiscordSubscribe
← All companies

Anduril

Defense, Aerospace & Space · Costa Mesa, California · Private

Anduril builds autonomous defense systems and the software layer used to operate them.

$61BLatest valuationMay 2026 post-money
$5BLatest fundingSeries H
$2.2B2025 revenueCompany-reported
PrivatePublic statusNo confirmed IPO

The Company

Anduril combines autonomous hardware with its Lattice command-and-control software. The company aims to sell rapidly developed products into defense and national-security customers rather than relying only on traditional long-cycle procurement.

Its May 2026 Series H brought the latest confirmed valuation to $61 billion. Reports of a later financing at a higher valuation remain unconfirmed and are not presented as current fact here.

Why It Matters

Anduril is part of the private defense cohort challenging legacy contractors with software-led autonomy and new manufacturing capacity. Its progress affects the pace of defense procurement, the industrial base, and the public-market case for high-growth defense technology.

Valuation History

  1. $1.9B→Jul 2020Series CSource ↗
  2. $4.6B→Jun 2021Series DSource ↗
  3. $8.5B→Dec 2022Series ESource ↗
  4. $14.0B→Aug 2024Series FSource ↗
  5. $30.5B→Jun 2025Series GSource ↗
  6. $61.0B→May 2026Series HSource ↗

What Changed

  1. Anduril is founded around a software-first approach to defense autonomy.

  2. Lattice becomes the central software layer tying together sensors, vehicles, and operators.

  3. The company expands manufacturing ambitions alongside growing defense demand.

  4. A $5 billion Series H funds broader production capacity and product development.

Last verified by human:

THE NEXT COMPANY. A CLEARER PICTURE.

Get the next breakdown.

Independent company research and perspectives on private markets, delivered through The Private Ledger on Substack.

Copy this link

Your browser could not copy automatically. Select and copy the link below.