Mercor Raises $750 Million in Series D at $20 Billion Valuation

Mercor detailed a broader enterprise AI evaluation and post-training push in a Nov. 10 announcement of a $750 million Series D that values the company at $20 billion.

The round includes an employee tender, but Mercor did not disclose how much of the $750 million is tied to employees selling shares or how much will go to the company as new capital. The company plans to invest in research and infrastructure for evaluations and post-training, along with additional environments where AI agents can practice complex workflows.

Over the past two years, Mercor has developed systems for training and assessing frontier AI models. Its enterprise evaluations use companies’ actual workflows and requirements, giving businesses a way to assess models against tasks shaped around their operations.

More than five million experts work through Mercor’s network and receive payment for training frontier AI models. “Every job in the economy will need its own agents that can perform tasks reliably and efficiently,” Mercor co-founder and CEO Brendan Foody said.

Investors named in the round include Benchmark, Felicis, Fundomo, funds managed by Apollo affiliates, G Squared, General Catalyst, Glade Brook Capital, NVIDIA, Salesforce, Sapphire Ventures, StepStone Group, XTX Ventures and Zoom.

Mercor’s previous announced financing was a $350 million Series C at a $10 billion valuation on Oct. 27, 2025. In July, the company announced plans to acquire Deeptune, which builds training environments for reinforcement learning. Deeptune’s team had recreated hundreds of enterprise applications over two years.