Mercor said on 10 November it had raised $750 million in a Series D round valuing the San Francisco AI training startup at $20 billion, compared with about $10 billion after a $350 million raise in October 2025, Reuters reported. Mercor plans to use the new funding to help train and test AI agents on professional tasks.
Key points
- The $750 million Series D values Mercor at $20 billion, against about $10 billion after its October 2025 funding.
- Participants include Benchmark, Felicis, Fundomo, Nvidia and funds managed by Apollo affiliates.
- Mercor plans to use the money to help train and test AI agents on professional tasks.
Mercor’s $20 billion Series D
Benchmark, Felicis, Fundomo and Nvidia participated in the round, alongside funds managed by affiliates of Apollo and other investors. The financing gives Mercor a new valuation about a year after its previous raise. That October 2025 round brought in $350 million and valued the company at about $10 billion.
Mercor began as an AI-powered hiring platform. Mercor now pairs tech firms with specialists in particular fields, drawing on their expertise to develop, assess and refine AI models and agents. The new financing is intended to support that work on professional tasks, according to the company.
Jack Dorsey and venture capitalist Peter Thiel are among Mercor’s backers. The Series D participants named in the latest round include both venture investors and Nvidia, which joins the financing as Mercor directs the proceeds towards its agent-training work.
Foody sets out Mercor’s agent plans
Mercor co-CEO Brendan Foody described a broad market for training agents on work specific to individual companies. “Every job in the economy will need its own AI agents and every company will need a way to train and evaluate them on its own work,” Foody said, according to Reuters.
Foody also said the $750 million financing would accelerate Mercor’s enterprise business in an interview with CNBC on 10 November. Mercor’s stated use for the funding centres on the training and testing of agents for professional tasks, building on its work connecting technology companies with experts.
Crunchbase puts quarterly AI funding at $102 billion
The Mercor round comes during a period of substantial venture investment in AI companies. AI-driven startups raised $102 billion in the third quarter of 2026, accounting for 64 per cent of global venture capital during the period, according to Crunchbase figures reported by Reuters.
