Mercor is having quite the year. Six months after dealing with a data breach and contractor lawsuits, the AI training company announced it has crossed a $2 billion annualized revenue run rate — a 100 percent jump in just four months — and is acquiring Deeptune, a startup that specializes in training AI agents.
The moves come as the company explores a new funding round that sources say could value it at $20 billion, double the $10 billion it commanded during a $350 million Series C last October. Founder and CEO Brendan Foody posted on X that the company has already received a term sheet at the higher valuation, though the talks are still in early stages.
The Deeptune acquisition brings the entire Deeptune team aboard, signaling that Mercor is looking beyond simple data labeling and into the fast-moving market for AI agent training — a space where models need to learn not just what to say, but how to act. The deal was announced Thursday alongside the revenue milestone.
Mercor’s rapid growth and aggressive expansion suggest the company has put a difficult spring behind it. In April, the startup disclosed a data breach and faced multiple lawsuits from contractors. But if the revenue numbers are any indication, those setbacks haven’t slowed its business momentum.
By targeting a $20 billion valuation just nine months after its last round, Mercor is betting that the market for AI training infrastructure — from datasets to agent behavior — will only grow larger as more companies race to deploy AI agents in production.
Source: TechCrunch
