Mercor Secures $100 Million Series B, Valuation Soars to $2 Billion

New updates have been reported about Mercor (PC:MRCOR)

Mercor, an AI-driven recruiting platform, has successfully raised $100 million in a Series B funding round, elevating its valuation to $2 billion. This significant financial milestone was led by Felicis, with participation from existing investors such as Benchmark, General Catalyst, DST Global, and Menlo Ventures. This latest funding round marks a substantial increase from its previous valuation of $250 million during its Series A round in 2024. Founded by Thiel Fellows Brendan Foody, Adarsh Hiremath, and Surya Midha, Mercor is now positioned as a leading player in the AI recruitment space, with backing from notable figures like Peter Thiel, Jack Dorsey, and Adam D’Angelo.

Mercor’s platform leverages AI to automate various aspects of the hiring process, including resume screening, candidate matching, and conducting AI-powered interviews. The company claims its technology not only streamlines recruitment but also reduces bias, a contentious point in the AI community. Mercor’s growth trajectory is underscored by its impressive $75 million annual revenue run rate, primarily driven by collaborations with top AI labs such as OpenAI. As the company expands its talent pool to meet increasing demand, it continues to focus on high-demand sectors like software engineering while diversifying into other professional fields. CEO Brendan Foody emphasizes the transformative potential of Mercor’s technology in the evolving job market, advocating for a shift towards a more flexible, gig-like work model. This strategic direction aims to enhance job matching efficiency, ensuring that projects are executed by the most qualified individuals rather than relying solely on available staff.