Mercor Raises $750 Million at a $20 Billion Valuation, Doubling in a Year

What happened

Mercor said in its official blog on Nov 10 that it raised $750 million in a Series D valuing the company at $20 billion. Investors included Benchmark, Felicis, Fundomo, funds managed by affiliates of Apollo, G Squared, General Catalyst, Glade Brook Capital, NVIDIA, Salesforce, Sapphire Ventures, StepStone Group, XTX Ventures and Zoom; Reuters confirmed the round the same day.

The round included an employee tender, and the money will accelerate infrastructure and research for the company's evaluation and post-training business, along with more environments where agents can learn complex workflows. Mercor acquired Deeptune earlier in 2026 to add the software layer for those environments, and opened New York and London offices in 2026.

The valuation doubles the $10 billion mark from the Series C on Oct 27, 2025, a $350 million round led by Felicis. Mercor says its network includes more than five million experts, including doctors, lawyers and bankers who train and test AI models with their specialized knowledge; annualized gross revenue, before paying human contractors, passed $2 billion in June 2026.

Key facts

1. Round: Series D of $750 million at a $20 billion valuation; the round included an employee tender; no lead investor named
2. Investors: Benchmark, Felicis, Fundomo, funds managed by affiliates of Apollo, G Squared, General Catalyst, Glade Brook, NVIDIA, Salesforce, Sapphire, StepStone, XTX and Zoom
3. Valuation: Double the $10 billion Series C mark of October 2025; that round raised $350 million and was led by Felicis
4. Use of funds: Accelerate evaluation and post-training infrastructure and research, and expand environments where agents learn complex workflows
5. Scale: A network of more than five million experts; annualized gross revenue, before paying contractors, passed $2 billion in June 2026
6. Background: Founded in 2023 by Brendan Foody, Adarsh Hiremath and Surya Midha, starting as an AI hiring platform