Mercury Technologies, Inc.
Unicorn · $5.2BSan Francisco, US · Founded 2017 · Delaware corporation · 7 known investors
San Francisco-based fintech building banking products for startups, valued at $5.2B after a May 2026 Series D.
Also known as Mercury
Founders & leadership
Mercury Technologies, Inc. was founded in 2017 by Immad Akhund and Jason Zhang.
Board
Investors · 7
Also in the syndicate · 1
Reported raises · per SEC filings
Form D private placements$426.2M disclosed across 4 of 8 rounds · 2017–2026
▶$200MraisedMay 2026 · 21 investors · Other TechnologyRule 506(b)
- Immad AkhundExecutive Officer, Director
- Tim MayopoulosDirector
- Jason ZhangExecutive Officer, Director
- Sonya HuangDirector
- Tom BrownDirector
- Saar GurDirector
- Offering amount
- $200M
- Amount sold
- $200M
- First sale
- May 2026
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$200MraisedApr 2025 · 6 investors · Other TechnologyRule 506(b)
- Immad AkhundExecutive Officer, Director
- Tom BrownDirector
- Saar GurDirector
- Jason ZhangExecutive Officer, Director
- Sonya HuangDirector
- Offering amount
- $200M
- Amount sold
- $200M
- First sale
- Mar 2025
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$21.3MraisedNov 2019 · 85 investors · Other TechnologyRule 506(b)
- Saar GurDirector
- Immad AkhundExecutive Officer, Director
- Offering amount
- $21.3M
- Amount sold
- $21.3M
- First sale
- Jul 2019
- Incorporated
- Corporation, Delaware, 2017
- Federal exemptions
- 06b
▶$4.9MraisedOct 2017 · 30 investors · Commercial BankingRule 506(b)
- Immad AkhundExecutive Officer, Director, Promoter
- Offering amount
- $4.9M
- Amount sold
- $4.9M
- First sale
- Oct 2017
- Incorporated
- Corporation, Delaware, 2017
- 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 2026Mercury Technologies, Inc., known publicly as Mercury, is a San Francisco-headquartered financial technology company founded in 2017 that develops banking products aimed at startups. Public profiles categorize it under banking, financial services, fintech and SaaS/cloud, and describe it as a digital banking startup backed by Andreessen Horowitz. The company launched to the public in April 2019 following an announcement on its own blog.
As of 2026, aggregated data lists roughly 383 employees and a headquarters in San Francisco, with additional recorded locations in Houston, United States, and Moscow, Russia. The company has raised across at least six recorded rounds, from a 2017 seed round through a Series D in May 2026, and had 54 live job postings at the time the source data was compiled, including roles in engineering, sales, operations, product management and partnerships.
Detailed financial statements are not publicly disclosed; PrivCo's profile for the company contains no populated revenue, EBITDA, balance-sheet or deal figures. A third-party estimate places annual revenue in a broad $69M–$192M range, which is an estimate rather than a reported figure.
Business model
Mercury supplies banking products to startup customers. The available sources describe the product category (banking/financial services for startups) but do not detail pricing, fee structures or unit economics.
Traction
Sources report approximately 383 employees, total disclosed funding of $646.0M, a $5.2B post-money valuation as of May 2026, and an estimated revenue range of $69M–$192M (an aggregator estimate, not reported financials). PrivCo's profile lists no disclosed revenue, EBITDA or valuation figures.
Latest developments
In May 2026 Mercury announced a $200M Series D led by TCV at a $5.2B post-money valuation, with participation from Andreessen Horowitz, Coatue Management, CRV, Sapphire Ventures, Sequoia Capital and Spark Capital; CNBC reported the valuation was up 49% in 14 months. The company was simultaneously reported to be hiring across 54 open roles, including leadership searches for a Head of Technical Program Management - Banking and an open call for founders/founding teams in product management and engineering.
▸Full profile — market position, go-to-market, geography, history
Market position
A third-party ranking service places Mercury first among San Francisco banking startups and first in its "Bank" category, and 19th among San Francisco startups and 48th among United States startups in its index. These are rankings from a single aggregator rather than independently verified market share data.
Go-to-market
Startups, per source descriptions of Mercury as a company making banking products for startups; open roles also reference venture ecosystem sales and partnerships with VCs, law firms and AI/API companies.
Geography
Headquartered in San Francisco, United States, with additional recorded locations in Houston, United States, and Moscow, Russia. Job postings reference San Francisco, New York, Portland and remote roles within Canada or the United States.
History
Mercury was founded in 2017 and raised a $6.0M seed round in August 2017. It launched publicly on 17 April 2019, raised a Series A in July 2019 followed by a $20.0M Series A tranche in September 2019, a $120.0M Series B led by Coatue Management in July 2021 at a $1.6B post-money valuation, a $300.0M Series C led by Sequoia Capital in March 2025 at a $3.5B post-money valuation, and a $200.0M Series D led by TCV in May 2026 at a $5.2B valuation.
Compiled by commissioned research from 4 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.
Timeline · 6
launches, deals, and filingsTCV led the round with participation from a16z, Coatue, CRV, Sapphire Ventures, Sequoia Capital and Spark Capital; valuation up 49% in 14 months.
$200M source ↗
Primary and secondary funding totaling $300M at a $3.5 billion post-money valuation, doubling the prior valuation.
$300M source ↗
$120M source ↗
$20M source ↗
$6M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structureIn the news
Mercury Raises $200M Series Dthesaasnews.com · Jul 2026
Fintech firm Mercury hits $5.2 billion valuation after funding round, up 49% in 14 monthscnbc.com · May 2026
Mercury-bound spacecraft buzzes Earth, beams back picturesphys.org · Apr 2020▸Research sources · 4
primary sources listed
- Mercury Technologies, Inc. Company Profile: Financials, Valuation, and Growth | PrivCoprivco.com · web
4 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Mercury Technologies, Inc. do?
- San Francisco-based fintech building banking products for startups, valued at $5.2B after a May 2026 Series D.
- Who founded Mercury Technologies, Inc.?
- Mercury Technologies, Inc. was founded by Immad Akhund, Jason Zhang in 2017.
- Who are Mercury Technologies, Inc.'s investors?
- Mercury Technologies, Inc.'s investors include Andreessen Horowitz, CRV (Charles River Ventures), Sapphire Ventures, Sequoia Capital, Spark Capital, TCV.
- How much funding has Mercury Technologies, Inc. raised?
- Mercury Technologies, Inc. has disclosed $426.2M raised across 4 of its 8 known rounds.
- Where is Mercury Technologies, Inc. headquartered?
- Mercury Technologies, Inc. is headquartered in San Francisco, US.