Mercor, an AI training startup launched in 2022, is in discussions with investors for a Series C funding round and is seeking a valuation of over $10 billion. The company, which connects domain experts with AI labs for model training, is approaching a $450 million annualised revenue run rate. Existing investor Felicis is considering increasing its stake.
Mercor's business model revolves around providing experts in fields like law, medicine, and science to assist in AI model training. The company charges an hourly finder's fee and matching rate for these experts. Mercor's last funding round was a $100 million Series B at a $2 billion valuation in February 2025. Founded by Brendan Foody (CEO), Adarsh Hiremath (CTO), and Surya Midha (COO), Mercor recently hired Sundeep Jain, former chief product officer at Uber, as president.
Looking ahead, Mercor plans to expand into reinforcement learning infrastructure and launch an AI-powered recruiting marketplace. The company's rapid growth comes amid a boom in AI investments.
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