Mercor, an AI startup, doubled its valuation to $20 billion in a $750 million Series D, while Forbes estimated each co-founder’s fortune at $4.2 billion.
Mercor announced the financing Nov. 10, saying proceeds would go toward evaluating AI systems, training them further and building simulated settings where agents can practice complex professional tasks. The company also confirmed an employee tender but did not disclose what portion of the $750 million it involved or identify sellers. Mercor named NVIDIA, Salesforce and Zoom among the round’s participants. It also listed Benchmark, Felicis, Fundomo, Apollo-affiliated funds and General Catalyst.
Forbes based its estimates on estimated 21% stakes for CEO Brendan Foody, Chief Technology Officer Adarsh Hiremath and board chairman Surya Midha. The report said the three were 23 and reached billionaire status at 22, a year before Mark Zuckerberg did at 23. Forbes said Mercor declined to comment on its net-worth estimates. The $4.2 billion figures are estimates, not reported payments from the tender.
Mercor’s prior Series C raised $350 million at a $10 billion valuation when announced Oct. 27, 2025.
Mercor says its infrastructure draws on human expertise to train and evaluate frontier AI models, and that its network includes more than five million experts. The company says it is bringing that capability to enterprise customers. Its stated rationale is that businesses need to assess how AI agents perform specialized professional work; the planned evaluation and practice tools are aimed at that task. Mercor says it has spent the past two years building this infrastructure.
In a 20VC interview, Hiremath said he and Midha began with India because both of their parents immigrated from there.
