OpenRouter, the AI model marketplace that lets developers switch between hundreds of large language models through a single API, has been fielding multibillion-dollar takeover interest from larger technology companies.
The startup, which closed a $113 million Series B led by CapitalG in May 2026 at a roughly $1.3 billion valuation, has discussed a potential sale with multiple interested parties. Annualized revenue reached $50 million in April, up fivefold from the prior year.
OpenRouter routes across more than 400 models, serves about 8 million users, and processes roughly 100 trillion tokens per month. The platform charges an approximately 5% fee on each API call, positioning itself as the neutral layer between model providers and developers.
Backers include Andreessen Horowitz, Menlo Ventures, Nvidia’s NVentures, ServiceNow Ventures, MongoDB Ventures, Snowflake Ventures, and Databricks Ventures. The company’s rapid growth reflects the exploding demand for multi-model AI infrastructure as enterprises hedge against vendor lock-in.
A sale at a multibillion-dollar valuation would represent a significant return for investors who backed OpenRouter less than two years ago.
