According to Bloomberg, AI startup Mercor is in talks to raise capital at a $20 billion valuation. This is double the level of its October 2025 Series C funding of $350 million at a $10 billion valuation. Negotiations are in the early stages, and Mercor informed investors that it has already received a term sheet at the new price.
Founder Brendan Foody stated that the company's annualized revenue run rate has exceeded $2 billion and grown 100% in four months. This metric reflects the platform's gross turnover, including contractor payments, and is not equivalent to net revenue.
Meanwhile, Mercor announced the acquisition of Deeptune, a developer of AI agent training solutions. The startup's entire team will join Mercor.