Mercor
Unicorn · $10BSan Francisco, US · Founded 2023 · 9,762 employees on LinkedIn · 23 known investors
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Mercor is a platform that connects skilled workers with AI-related tasks and projects, organizing human intelligence to support the development and training of AI systems.
Also known as Mercor.io · Mercor.io Corporation
Founders & leadership
Mercor was founded in 2023 by Brendan Foody, Adarsh Hiremath, Surya Midha, and Adarsh H..
Board
Investors · 23
How we know: 2.12 Angels's portfolio page · Not right? Tell us
How we know: 20vc.fund · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: A*'s portfolio page · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
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How we know: Eastlink Capital Partners's portfolio page · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Emergence Capital Partners's portfolio page · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Felicis Ventures's portfolio page · a partner's Signal profile · techcrunch.com · funding news · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Firestreak Ventures's portfolio page · Not right? Tell us
How we know: General Catalyst's portfolio page · a partner's Signal profile · techcrunch.com · funding news · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Kyber Knight Capital's portfolio page · the VCSheet dataset · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
How we know: Menlo Ventures's portfolio page · techcrunch.com · the VCSheet dataset · Not right? Tell us
How we know: Next Legacy Partners's portfolio page · Not right? Tell us
How we know: Soma Capital's portfolio page · Not right? Tell us
How we know: SquareOne Capital's portfolio page · Not right? Tell us
How we know: SV Angel's portfolio page · Not right? Tell us
How we know: a partner's Signal profile · techcrunch.com · funding news · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
Also in the syndicate · 1
Funding
SEC filings, press & company announcements$818.6M disclosed across 4 of 8 rounds · 2024–2026
- Undisclosed amountSeries CJun 2026Source ↗
- $350MSeries COct 2025 · 2 sources
Felicis Ventures (lead), Benchmark, General Catalyst, Robinhood Ventures
Source ↗
▶$330.4MraisedFeb 2026 · 21 investors · Other TechnologyRule 506(b)
- Peter FentonDirector
- Surya MidhaDirector
- Adarsh HiremathExecutive Officer, Director
- Brendan FoodyExecutive Officer, Director
- Sundeep JainExecutive Officer
- Offering amount
- $330.4M
- Amount sold
- $330.4M
- First sale
- Oct 2025
- Incorporated
- Corporation, Delaware, 2022
- Federal exemptions
- 06b
▶$103.6MraisedFeb 2026 · 26 investors · Other TechnologyRule 506(b)
- Peter FentonDirector
- Adarsh HiremathExecutive Officer, Director
- Brendan FoodyExecutive Officer, Director
- Surya MidhaDirector
- Sundeep JainExecutive Officer
- Offering amount
- $103.6M
- Amount sold
- $103.6M
- First sale
- Nov 2024
- Incorporated
- Corporation, Delaware, 2022
- Federal exemptions
- 06b
▶$34.7MraisedJan 2026 · 70 investors · Other TechnologyRule 506(b)
- Surya MidhaDirector
- Adarsh HiremathExecutive Officer, Director
- Sundeep JainExecutive Officer
- Brendan FoodyExecutive Officer, Director
- Peter FentonDirector
- Offering amount
- $34.7M
- Amount sold
- $34.7M
- First sale
- Jun 2024
- Incorporated
- Corporation, Delaware, 2022
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026Mercor (legal name Mercor.io Corporation) is a San Francisco-based artificial intelligence data company that recruits and vets domain experts and puts them to work producing training data and evaluations for frontier AI models and chatbots. The company describes itself as building the layer between human expertise and frontier models, and says its platform spans more than 300 professional fields, using dynamic, role-specific AI interviews to find and screen candidates. Roles listed on its site include STEM experts, accountants, HR and sales professionals, architects, and healthcare survey respondents, with posted rates generally ranging from roughly $63 to $120 per hour.
The business has three main lines. Experts find paid work training and evaluating models; enterprises engage Mercor to build custom AI agents trained on their own knowledge, workflows and standards, to staff teams with vetted domain experts, and to monetize their data; and Mercor publishes the APEX benchmark family (including APEX-Agents, APEX-Accounting and APEX-SWE), which measures whether AI models can perform economically valuable professional work in areas such as consulting, investment banking and law. Reported customers include OpenAI, Anthropic and Nvidia, the latter using Mercor data for its Nemotron open-source models.
As of 2025 Wikipedia reported roughly 300 employees, and the company said it managed over 30,000 contractors as of October 2025. Mercor states that millions of domain experts on the platform are paid over $4 million per day.
Founding story
Mercor was founded in 2023 by Brendan Foody, Adarsh Hiremath and Surya Midha, three Bay Area high school friends who competed together on the Bellarmine College Preparatory speech and debate team. All three dropped out of college to work on the company and were awarded Thiel Fellowships. The founders describe their motivation as addressing uncertainty about the role humans will play in the economy as AI advances, arguing the bottleneck to AI progress is human intelligence rather than compute.
Business model
Mercor operates a two-sided marketplace and services business: it recruits, vets and manages a network of contracted domain experts, and sells their labeled data, model-training work, evaluations and staffing to AI labs and enterprises. Experts are paid hourly (posted roles range from about $63 to $120/hr), with company materials citing average earnings above $95 per hour and aggregate payouts exceeding $4 million per day. Adjacent offerings include enterprise custom AI agents, off-the-shelf data, data monetization, and the APEX benchmark program.
Revenue comes from enterprise and AI-lab contracts for expert-generated training data, evaluations and agent/staffing engagements, with the underlying expert workforce engaged as contractors paid hourly. Mercor said it crossed $2 billion in annualized revenue in June 2026, doubling from $1 billion reached in February 2026, and reportedly earned tens of millions of dollars from Nvidia in a single recent quarter.
Traction
Mercor said it managed over 30,000 contractors as of October 2025, paying them collectively more than $1.5 million per day at that time; company materials later cite payouts exceeding $4 million per day and average expert earnings above $95 per hour across more than 300 professional fields. Annualized revenue reportedly reached $1 billion in February 2026 and $2 billion in June 2026. Customers cited include OpenAI, Anthropic and Nvidia. Valuation rose from $2 billion (early 2025 reporting) to $10 billion in October 2025, with reported talks at $20 billion in 2026.
Latest developments
In July 2026 Mercor acquired Deeptune, an AI agent-training startup whose entire team joined Mercor, and CEO Brendan Foody said annualized revenue run rate crossed $2 billion, double the level four months earlier. Also in July 2026, reports said the company was in talks to raise about $500 million at a $20 billion valuation, with a term sheet reportedly in hand; in August 2026 The Information reported Nvidia was considering participating in that round. These followed the March-April 2026 LiteLLM-linked data breach and resulting class-action litigation.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Mercor is positioned as a leading AI data company and a principal competitor in the expert data-labeling and model-evaluation market alongside Scale AI, Surge AI, Turing, Invisible Technologies and Micro1. Its rise was accelerated by Meta's $14.3 billion purchase of a 49% stake in Scale AI in June 2025, after which some large labs reportedly cut ties with Scale; cofounder Adarsh Hiremath said the company's biggest competitor was 'torpedoed overnight.' Mercor was valued at $10 billion in October 2025 and was reported in mid-2026 to be in talks at a $20 billion valuation. It has appeared on the Forbes AI 50, Forbes Cloud 100, LinkedIn Top Startups, Bloomberg's 24 AI Startups to Watch and Newsweek's America's Greatest Startup Workplaces lists.
Mercor emphasizes depth of professional expertise rather than generic labeling: AI-driven, role-specific interviews to vet experts across 300+ fields, and its own APEX benchmark family to measure whether models can perform economically valuable professional work. It also combines the expert network with enterprise offerings such as custom AI agents and data monetization. Its perceived neutrality relative to Scale AI, after Meta acquired a large stake in that competitor, was cited as a commercial advantage.
Technology
Mercor's platform uses AI-driven, role-specific interviews to source, assess and match experts to projects; the original system evaluated candidates by analyzing interview transcripts, resumes and personal portfolio websites. The company also builds evaluation infrastructure in the form of the APEX benchmark family (APEX-Agents, APEX-Accounting, APEX-SWE), which measures AI model performance on real professional tasks, and deploys custom AI agents trained on client organizations' knowledge and workflows.
Go-to-market
Direct enterprise and AI-lab sales for data, evaluation and agent engagements, combined with self-serve recruitment of experts through public role listings on its website. The APEX benchmarks and published research, plus extensive press coverage, function as marketing and credibility channels; the company also maintains a newsroom, blog and expert 'stories' content.
Frontier AI labs and model developers such as OpenAI, Anthropic and Nvidia, plus Fortune 500 enterprises deploying AI in production. On the supply side, the platform targets skilled professionals including engineers, software developers, lawyers, doctors, bankers, quantitative traders, scientists, accountants, HR and sales professionals, and journalists.
Geography
Headquartered at 181 Fremont in San Francisco, California, with additional offices in New York City and London. The expert network is described as global; the company's earliest business connected freelance programmers in India with US companies.
History
The company was originally formed to connect freelance programmers in India with US companies, building an AI platform that interviewed programmers and matched them with hiring firms. It later shifted to data labeling and expert-sourced model training after inadvertently accumulating a network of specialized experts. In May 2025 it hired former Uber chief product officer Sundeep Jain as its first president. It raised a $100 million Series B led by Felicis, then in October 2025 announced a $350 million Series C at a $10 billion valuation, making its then-22-year-old founders the youngest self-made billionaires. In January 2026 it released its first APEX-Agents benchmark report. In late March 2026 it was affected by a supply-chain attack involving the LiteLLM package, followed by class-action lawsuits. In July 2026 it acquired AI agent-training startup Deeptune and was reported to be in talks to raise roughly $500 million at a $20 billion valuation; in August 2026 Nvidia was reported to be weighing participation in that round.
Risks & controversies
In late March 2026 Mercor was reportedly hit by a supply-chain attack tied to the LiteLLM open-source package, with hackers claiming up to 4 terabytes of internal data and contractor personally identifiable information; the incident triggered at least seven class-action lawsuits alleging exposure of interview recordings, facial biometric data and screenshots of workers' computers, and a temporary pause in work by clients including Meta. Mercor said it disputes the lawsuits' claims. Forbes also reported the company fired an employee for embezzling funds and that employees suspected North Korean operatives infiltrated the platform using stolen credentials. Contractors interviewed by The Verge, New York Magazine and Wired described a stressful work environment, poor management and declining pay. Business model risk also stems from concentration among a few large AI labs and intense competition in the data-labeling market.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Founder mafia
The Mercor mafia →13 people who came through Mercor went on to found or lead other companies.
Acquisitions · 1
Early investors' stakes continue via these dealsDeeptune builds simulation environments (training gyms) where AI agents can practice performing tasks like coding and spreadsheet work to improve performance. The platform serves frontier research labs and provides pre-built environments mimicking popular software like Slack and Salesforce.
Timeline · 10
launches, deals, and filingsThe Information reported that Nvidia discussed participating in a funding round valuing Mercor at $20 billion; Mercor supplies data used for Nvidia's Nemotron open-source models and earned tens of millions of dollars from Nvidia in the prior quarter.
Mercor announced the acquisition of Deeptune, a company that helps train AI agents; the entire Deeptune team joined Mercor. Mercor CEO Brendan Foody had previously backed the startup.
Mercor was reported to be in talks to raise about $500 million at a $20 billion valuation, with a term sheet reportedly received; the deal was expected to close later in July 2026 though terms could change.
$500M source ↗
Suits allege the breach exposed contractor information including job interview recordings, facial biometric data and screenshots of workers' computers. Mercor said it disputes the claims.
Mercor was reportedly affected by a supply-chain attack involving the LiteLLM open-source package; hackers claimed possession of up to 4 terabytes of internal data and contractor personally identifiable information. The incident led to multiple class-action lawsuits and a temporary pause of work by major clients including Meta.
Mercor published its first APEX-Agents benchmark report measuring how well leading AI models perform business tasks in areas such as consulting, investment banking and law.
Mercor announced a $350 million Series C led by Felicis with participation from Benchmark, General Catalyst and new investor Robinhood Ventures, valuing the company at $10 billion, a fivefold increase from its February 2025 raise.
$350M source ↗
Mercor appointed Sundeep Jain, previously chief product officer at Uber, as its first president.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
Mercor is in talks for a $20B valuationtechcrunch.com · Jul 2026▸Research sources · 8
primary sources listed
- Mercormercor.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Mercor do?
- AI data company that recruits vetted domain experts to train and evaluate frontier AI models for labs and enterprises.
- Who founded Mercor?
- Mercor was founded by Brendan Foody, Adarsh Hiremath, Surya Midha, Adarsh H. in 2023.
- Who are Mercor's investors?
- Mercor's investors include 2.12 Angels, 20VC, A*, Alumni Ventures, Eastlink Capital Partners, Emergence Capital Partners, Felicis Ventures, Firestreak Ventures and 14 more.
- How much funding has Mercor raised?
- Mercor has disclosed $818.6M raised across 4 of its 8 known rounds.
- Where is Mercor headquartered?
- Mercor is headquartered in San Francisco, US.











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