AI training startup Mercor is in early-stage talks to raise a new round at a $20 billion valuation, according to Bloomberg. That would double the $10 billion valuation it reached in its $350 million Series C last October.
Founder-CEO Brendan Foody posted on X that the company’s annualized revenue run rate has crossed $2 billion, a 100 percent increase from just four months ago. Mercor also announced the acquisition of Deeptune, a company focused on training AI agents, with the entire Deeptune team joining Mercor.
Mercor reportedly told investors it already received a term sheet at the new valuation. The revenue growth, acquisition, and potential new funding suggest the company has moved past the troubles it faced earlier this year, which included a data breach and lawsuits from contract workers.
A $20 billion valuation would rank Mercor among the most valuable private AI companies globally.
