Mercor
About Mercor
Mercor is a AI Model Development startup based in San Francisco, United States that has raised $484M in venture capital across 4 funding rounds since 2023. The company reached Series C stage in October 2025 with a $350M round led by Felicis Ventures at a $10B valuation. Mercor's investor base includes 6 institutional funds, with Felicis Ventures leading the most recent equity round.
Mercor is an AI-training data marketplace that connects specialized human experts with AI labs to label data, evaluate models, and generate reinforcement learning from human feedback (RLHF) datasets. Founded by three Thiel Fellows, the company has scaled to over 30,000 experts and reached an estimated $2B annualized revenue run-rate by mid-2026.
Mercor Funding Rounds Timeline
4 rounds · $484M raised · since 2023
| Round | Date | Amount | Valuation | Lead investor | Co-investors |
|---|---|---|---|---|---|
| Series C | October 2025 | $350M | $10B | Felicis Ventures | Benchmark, General Catalyst, Robinhood Ventures |
| Series B | February 2025 | $100M | $2B | Felicis Ventures | Benchmark, General Catalyst, DST Global, Menlo Ventures |
| Series A | September 2024 | $30M | $250M | Benchmark | — |
| Seed | 2023 | $3.6M | — | General Catalyst | — |
Investors in Mercor
6 institutional investors across 4 rounds
Lead investors
Co-investors
Recent news about Mercor
- FundingMercor is in talks for a $20B valuationJuly 2026
Questions about Mercor
How much has Mercor raised?
Mercor has raised $484M across 4 funding rounds since 2023.
Who are the investors of Mercor?
Mercor's investors include Felicis Ventures, Benchmark, General Catalyst, Robinhood Ventures, DST Global, Menlo Ventures.
When was Mercor's last funding round?
Mercor's most recent round was a $350M Series C in October 2025, led by Felicis Ventures.
What is Mercor's valuation?
Mercor reached a $10B valuation (unicorn status) with its Series C round in October 2025.
Where is Mercor headquartered?
Mercor is headquartered in San Francisco, United States, and was founded in 2023 by Brendan Foody, Adarsh Hiremath, Surya Midha.