Mercor raises $750 million at a $20 billion valuation
Mercor completed a $750 million Series D at a $20 billion valuation, including an employee tender, to expand AI evaluation and post-training infrastructure.
Mercor raised $750 million in a Series D at a $20 billion valuation, the AI training and evaluation company announced on Nov. 10.
The round included an employee tender, but Mercor did not disclose how much was new capital or how much went to the tender. The company said it will use the funding to expand research, evaluation and post-training infrastructure, including environments where AI agents can practice complex professional workflows.
Mercor builds custom evaluations around a customer’s workflows, testing models against that company’s systems, policies and quality standards. Those results guide post-training, which refines a model after its initial training. Mercor said these capabilities are being adopted by large technology companies, open-model developers, application companies and Fortune 500 businesses, but it did not disclose adoption figures.
Participants in the round included Benchmark, Felicis, Fundomo, funds managed by affiliates of Apollo, G Squared, General Catalyst, Glade Brook Capital, NVIDIA, Salesforce, Sapphire Ventures, StepStone Group, XTX Ventures and Zoom. Mercor did not identify a lead investor or disclose individual commitments.
The $20 billion valuation is twice the $10 billion valuation Mercor announced with its $350 million Series C in October 2025.
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