Funding
Mercor Lands $750 Million In Series D Capital With Employee Tender
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AI training company Mercor announced on November 10, 2026, a US$750 million Series D financing valuing it at US$20 billion. The round included an employee tender, with Benchmark, General Catalyst, NVIDIA, Salesforce and Zoom among the participating investors.
The new valuation follows Mercor’s US$350 million Series C financing, announced on October 27, 2025, which valued the company at US$10 billion. Felicis led that round, with Benchmark, General Catalyst and Robinhood Ventures participating. Mercor said at the time that the Series C valuation was five times its Series B valuation.
Expert Network Extends Into Enterprise AI
Mercor says its network includes more than five million experts who are paid to train frontier AI models using their specialized knowledge. Capabilities developed for frontier laboratories are now being adopted by big technology companies, open-model developers, application-layer businesses and Fortune 500 enterprises.
Mercor’s enterprise playbook starts with a capable open model, which it says can be post-trained with a fraction of the resources required at the frontier. The company provides the data and evaluations enterprises use to adapt those models to their own operations.
Its enterprise work uses custom evaluations built from each company’s actual workflows to measure models against that company’s requirements and identify where additional training or practice in realistic environments could improve performance. Mercor’s frontier-lab and enterprise operations draw on the same expert network, evaluation methods and post-training infrastructure.
Inference spending at Mercor is three times its employee salary costs, a ratio the company says pays for itself by making employees better at their jobs.
Funding Supports Agent Training Environments
Mercor said the new funding will accelerate investment in evaluation and post-training infrastructure and research, along with more environments where agents can learn complex workflows. The company also opened New York and London offices during 2026 as its team grew beyond San Francisco.
Mercor acquired Deeptune earlier in 2026 to add the software layer for those environments. When the planned transaction was announced on July 9, 2026, Deeptune had spent two years recreating hundreds of enterprise applications, from spreadsheets to Salesforce, and its team was joining Mercor in New York.
Each environment combines the software where work takes place, tasks defining what the agent must accomplish and verifiers determining whether it succeeded. Deeptune provides the recreated software, while Mercor’s experts create the tasks and verifiers that translate human judgment into learning signals. Through APEX, Mercor measures model performance on economically valuable tasks across thousands of real-world workflows.
The financing leaves Mercor with a broader operational test: adapting evaluation and training capabilities developed for frontier laboratories to the systems, policies and quality standards of individual enterprises, while combining its expert network with Deeptune’s software at scale.
