Mercor, an AI training startup, has raised $750 million in a Series D round that values the company at $20 billion. The company announced the financing on Tuesday.
The round drew participation from Benchmark, Felicis, Fundomo, Nvidia and funds managed by affiliates of Apollo, among other investors.
The backers span several parts of the technology and investment world. Benchmark and Felicis are venture capital firms. Nvidia makes the processors widely used to build and run AI models. Apollo is a global alternative asset manager, and its participation comes through funds managed by its affiliates.
A Series D is a later-stage financing, raised after a company has completed earlier funding rounds. At $20 billion, the valuation is a sizeable mark for a company in AI training, the segment that covers preparing and refining the models behind AI products. The presence of Nvidia on the investor list also reflects how closely chips, capital and training services are tied together in the AI sector.
The $750 million raise and the $20 billion valuation are the figures confirmed so far. Other terms of the round, such as the split between new and existing investors or the planned use of proceeds, have not been verified by Capstack Media.
