The defense company was founded in 2017 and is based in Costa Mesa, California. It makes autonomous drones, the Fury unmanned fighter, counter-drone systems and the Lattice software that ties them together.
Anduril stock at a glance
| Question | Answer | Source |
|---|---|---|
| Is Anduril public? | No, privately held | Anduril; CNBC |
| Ticker | None | - |
| Latest share price | $94.80, the October 2026 employee tender price | Bloomberg via The Next Web |
| Latest valuation | About $90 billion (tender, October 2026) | Anduril to CNBC |
| Last funding round | $5 billion Series H at $61 billion, May 13, 2026 | TechCrunch |
| 2025 revenue | About $2.2 billion, roughly double 2024 | CEO Brian Schimpf, via TechCrunch |
| IPO filing | None on SEC EDGAR as of November 2, 2026 | SEC EDGAR |
| Employees | About 7,000 (2026) | Wikipedia |
Anduril's value, round by round
| Date | Round | Raised | Valuation | Led or named investors |
|---|---|---|---|---|
| September 2019 | Funding round | $120 million | Over $1 billion | Founders Fund, General Catalyst, Andreessen Horowitz |
| July 2020 | Funding round | $200 million | $2 billion | Andreessen Horowitz, Founders Fund |
| June 2021 | Series D | $450 million | $4.6 billion | Elad Gil |
| August 2024 | Series F | $1.5 billion | $14 billion | Founders Fund, Sands Capital |
| June 2025 | Series G | $2.5 billion | $30.5 billion | Founders Fund |
| May 2026 | Series H | $5 billion | $61 billion | Thrive Capital, Andreessen Horowitz |
| October 2026 | Employee tender | Up to $1.3 billion (secondary) | About $90 billion | Buyers not named |
Sources: Anduril Industries on Wikipedia for 2019 to 2024 rounds; TechCrunch, May 13, 2026, for the 2025 and 2026 rounds; The Next Web, citing Bloomberg and CNBC, for the tender.
From $1 billion in 2019 to about $90 billion in 2026 is roughly a 90-fold rise in seven years. The tender alone priced Anduril about 48% above the Series H.
At $94.80 a share and a $90 billion valuation, Anduril has roughly 950 million shares on a fully diluted basis. That is my estimate from the two reported numbers, not a company figure.
Can I buy Anduril stock before an IPO?
Not through a normal brokerage account. Your realistic options are:
- Wait for an IPO. Palmer Luckey has said he wants to take Anduril public eventually, but nothing has been filed, and Schimpf said in July 2026 that the company was not rushing.
- Secondary platforms and SPVs. Accredited investors sometimes find Anduril shares or fund units on private marketplaces, but Anduril controls transfers, and its own tenders are how most employees sell. SEC EDGAR also lists several special purpose vehicles named for Anduril, such as MCF Anduril LLC, Mana Anduril 2, LP and Anduril Fund, LLC, which pool accredited investors' money to buy into the company. They are not affiliated with Anduril, and their fees and terms vary.
- Venture and crossover funds. Some publicly traded funds and interval funds hold small private stakes, including in defense tech. Check a fund's latest holdings before buying it for Anduril exposure.
- Public defense stocks. Anduril competes and partners with listed contractors such as Lockheed Martin, Northrop Grumman and General Dynamics, but none of them gives direct exposure to Anduril.
Why no IPO yet? An October tender lets employees cash out without the pressure of a daily share price, which Schimpf told CNBC on October 15 keeps the company focused on "a massive, unprecedented ramp in defense production."
Who owns Anduril?
| Owner | Role | What is public |
|---|---|---|
| Palmer Luckey | Co-founder; founded Oculus | Stake not disclosed |
| Trae Stephens | Co-founder; partner at Founders Fund | Stake not disclosed |
| Brian Schimpf | Co-founder and CEO | Stake not disclosed |
| Matt Grimm and Joe Chen | Co-founders | Stakes not disclosed |
| Founders Fund | Investor since early rounds; led 2024 and 2025 rounds | Wrote its largest-ever $1 billion check in 2025 |
| Andreessen Horowitz and Thrive Capital | Co-led the 2026 Series H | Stakes not disclosed |
| Employees | About 7,000 staff | Can sell in periodic tenders |
Sources: Anduril Industries on Wikipedia; TechCrunch, May 2026.
Because Anduril is private it does not publish a shareholder list, and any percentage you see online for Luckey or the other founders is an estimate. I cover his fortune in Palmer Luckey net worth.
Anduril timeline
- 2017
Anduril incorporated on April 20 by Palmer Luckey, Trae Stephens, Matt Grimm, Joe Chen and Brian Schimpf
- 2019
Funding round
- 2021
Series D; leases a 640,000-square-foot campus in Costa Mesa
- 2024
Series F
- 2025
Announces Arsenal-1, a $1 billion factory near Columbus, Ohio; Series G in June
- 2026 (May)
$5 billion Series H
- 2026 (July)
Reported talks at about $100 billion; CEO says no rush to IPO
- 2026 (October)
Employee tender opens October 13 at $94.80 a share, closing November 9
How I checked this
I checked SEC EDGAR for any Anduril IPO filing and found none. Round sizes and valuations come from TechCrunch, CNBC and the funding history summarized on Wikipedia, and the tender terms come from Bloomberg's report, which Anduril confirmed to CNBC. The share-count estimate is my own arithmetic.
Related reading
Sources & methodology
Observations retain their source, period and definition. Uncertainty is preserved; missing values are not zero.
- Anduril opens a $1.3bn employee tender at a $90bn valuation (The Next Web, citing Bloomberg and CNBC) ↗
The Next Web · 2026-10-17T00:00:00.000Z
- Anduril raises $5B, doubles valuation to $61B (TechCrunch) ↗
TechCrunch · 2026-05-13T00:00:00.000Z
- Anduril doubles valuation to over $60 billion as defense tech funding boom continues (CNBC) ↗
CNBC · 2026-05-13T00:00:00.000Z
- Anduril in talks to raise funding at about $100 billion valuation (Defense News, citing Reuters) ↗
Defense News · 2026-07-24T00:00:00.000Z
- Anduril Industries (Wikipedia, citing company announcements, TechCrunch, Bloomberg and the Wall Street Journal) ↗
Wikipedia
Accessed 2026-11-02.