HomeMercor Secures $350M Series C at $10B Valuation, Quintupling Its Worth
Mercor, a platform connecting AI labs with specialized domain professionals to train their foundational AI models, has secured $350 million in funding at a valuation of $10 billion, the company confirmed to TechCrunch.
Felicis Ventures, which previously led the company's $100 million Series B round at a $2 billion valuation, is also heading this funding round. Existing backers Benchmark and General Catalyst, along with new participant Robinhood Ventures, also contributed.
TechCrunch reported in September that Mercor was negotiating with investors to raise a Series C round at a $10 billion valuation, increasing from its earlier $8 billion target. At that time, the company informed potential investors that it had already received multiple offers.
Initially launching as an AI-powered hiring platform, Mercor quickly shifted its focus to providing companies with subject matter experts—including scientists, doctors, and lawyers—for AI model training, charging an hourly matching and placement fee for their services.
The company has been enhancing its software infrastructure for reinforcement learning—a training approach where model decisions are validated or challenged, allowing continuous improvement through feedback. Mercor ultimately aims to develop an AI-driven recruitment marketplace.
Mercor's prospects brightened after leading AI labs like OpenAI and Google DeepMind reportedly severed ties with data-labeling firm Scale AI following Meta's $14 billion investment in the data provider and the hiring of its CEO.
The company reportedly informed investors that it's positioned to reach $500 million in annual recurring revenue faster than Anysphere, the startup behind Cursor, which famously achieved that milestone approximately one year after launching its core product.
"Since Mercor's founding nearly three years ago, AI has progressed at a remarkable rate. Yet it still grapples with nuances essential for economically valuable work—balancing trade-offs, interpreting intent, cultivating judgment, and determining what should be done, not merely what can be done," the company stated in a blog post emailed to TechCrunch.
The startup reports currently paying over $1.5 million daily to its contractor network. With more than 30,000 specialists on its platform, it compensates them at an average rate exceeding $85 per hour.
Mercor announced it will concentrate on three key priorities: expanding its professional network, refining its contractor-client matching systems, and developing new products to further automate its operations.
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Mercor, a platform connecting AI labs with specialized domain professionals to train their foundational AI models, has secured $350 million in funding at a valuation of $10 billion, the company confirmed to TechCrunch.
Felicis Ventures, which previously led the company's $100 million Series B round at a $2 billion valuation, is also heading this funding round. Existing backers Benchmark and General Catalyst, along with new participant Robinhood Ventures, also contributed.
TechCrunch reported in September that Mercor was negotiating with investors to raise a Series C round at a $10 billion valuation, increasing from its earlier $8 billion target. At that time, the company informed potential investors that it had already received multiple offers.
Initially launching as an AI-powered hiring platform, Mercor quickly shifted its focus to providing companies with subject matter experts—including scientists, doctors, and lawyers—for AI model training, charging an hourly matching and placement fee for their services.
The company has been enhancing its software infrastructure for reinforcement learning—a training approach where model decisions are validated or challenged, allowing continuous improvement through feedback. Mercor ultimately aims to develop an AI-driven recruitment marketplace.
Mercor's prospects brightened after leading AI labs like OpenAI and Google DeepMind reportedly severed ties with data-labeling firm Scale AI following Meta's $14 billion investment in the data provider and the hiring of its CEO.
The company reportedly informed investors that it's positioned to reach $500 million in annual recurring revenue faster than Anysphere, the startup behind Cursor, which famously achieved that milestone approximately one year after launching its core product.
"Since Mercor's founding nearly three years ago, AI has progressed at a remarkable rate. Yet it still grapples with nuances essential for economically valuable work—balancing trade-offs, interpreting intent, cultivating judgment, and determining what should be done, not merely what can be done," the company stated in a blog post emailed to TechCrunch.
The startup reports currently paying over $1.5 million daily to its contractor network. With more than 30,000 specialists on its platform, it compensates them at an average rate exceeding $85 per hour.
Mercor announced it will concentrate on three key priorities: expanding its professional network, refining its contractor-client matching systems, and developing new products to further automate its operations.
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