Mercor announced on November 10, 2026 that it has raised a $750 million Series D at a $20 billion valuation. Co-founder and CEO Brendan Foody announced the round on Mercor's blog. The round included an employee tender offer, and Mercor did not say how much was new capital and how much was secondary.
Foody's post names Benchmark, Felicis, Fundomo, funds managed by affiliates of Apollo, G Squared, General Catalyst, Glade Brook Capital, Nvidia, Salesforce, Sapphire Ventures, StepStone Group, XTX Ventures and Zoom as participants. Mercor raised its previous round, a $350 million Series C, at a $10 billion valuation in October 2025.
Mercor runs a network of what it says is more than five million experts, covering more than 800 distinct occupations in the U.S. Frontier AI labs hire them to produce training data and to evaluate models. Earlier this year the company acquired Deeptune, which builds simulated enterprise applications where AI agents can be trained and tested. Mercor has also opened offices in New York and London. Foody writes that the company already spends three times as much on inference as on employee salaries.
The new funding is aimed at selling to enterprises. Mercor wants to help companies build evaluations and training environments based on their own workflows, rather than relying only on public benchmarks.
For companies deploying agents, Mercor's pitch is that how a model performs on its own systems and policies matters more than its leaderboard score. A $20 billion valuation shows that investors expect human expert data and custom evaluations to remain a large market as agents move into business use.