Key Takeaways
- • Mercor raised $750 million in a Series D round that valued the AI training startup at $20 billion, according to Reuters.
- • The round drew participation from Benchmark, Felicis, Fundomo, Nvidia and funds managed by affiliates of Apollo, among others.
- • Mercor, which began as an AI-powered hiring platform, connects technology companies with subject-matter experts who train, test and improve AI models and agents.
- • The company's valuation roughly doubled from about $10 billion after its $350 million raise in October of the prior year.
- • Reuters, citing Crunchbase, reported AI-driven startups raised $102 billion, or 64% of global venture capital, in the third quarter of 2026.
Summary
Mercor said on Tuesday, November 10, that it had raised $750 million in a funding round that valued the AI training startup at $20 billion, according to Reuters. The Series D round drew participation from Benchmark, Felicis, Fundomo, Nvidia and funds managed by affiliates of Apollo, among others. The San Francisco-based company is backed by Jack Dorsey and venture capitalist Peter Thiel.
Mercor began as an AI-powered hiring platform and has since shifted its focus to connecting technology companies with subject-matter experts whose knowledge is used to train, test and improve AI models and agents. The company said it will use the new funding to help train and test AI agents on professional tasks. Co-CEO Brendan Foody said that every job in the economy will need its own AI agents and that every company will need a way to train and evaluate them on its own work.
The raise follows a sharp rise in private funding fueled by investor enthusiasm for AI. Reuters, citing Crunchbase, reported that AI-driven startups raised $102 billion, or 64% of global venture capital, in the third quarter of 2026. Mercor was valued at about $10 billion after raising $350 million in October of the prior year, so the new round represents a substantial step-up in valuation within roughly a year.
The round highlights a growing group of heavily capitalized startups carrying multibillion-dollar valuations, a cohort that has attracted both venture and institutional capital. The participation of Apollo-affiliated funds and Nvidia alongside venture investors underscores the breadth of interest in AI training and evaluation infrastructure.
Mercor began as an AI-powered hiring platform and has since shifted its focus to connecting technology companies with subject-matter experts whose knowledge is used to train, test and improve AI models and agents. The company said it will use the new funding to help train and test AI agents on professional tasks. Co-CEO Brendan Foody said that every job in the economy will need its own AI agents and that every company will need a way to train and evaluate them on its own work.
The raise follows a sharp rise in private funding fueled by investor enthusiasm for AI. Reuters, citing Crunchbase, reported that AI-driven startups raised $102 billion, or 64% of global venture capital, in the third quarter of 2026. Mercor was valued at about $10 billion after raising $350 million in October of the prior year, so the new round represents a substantial step-up in valuation within roughly a year.
The round highlights a growing group of heavily capitalized startups carrying multibillion-dollar valuations, a cohort that has attracted both venture and institutional capital. The participation of Apollo-affiliated funds and Nvidia alongside venture investors underscores the breadth of interest in AI training and evaluation infrastructure.
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