San Francisco-based AI-powered recruitment platform Mercor has secured a $100 million investment in its latest funding round, bringing its valuation to $2 billion.
Founded in 2023, Mercor has quickly gained traction in the industry. Last year, the company raised funds at a $250 million valuation, with backing from prominent angel investors like Peter Thiel, Jack Dorsey, and Larry Summers. This latest round was led by Felicis, with participation from General Catalyst, DST Global, Benchmark, and Menlo Ventures.
One of the key reasons behind Mercor’s rapid rise in valuation is its strong profitability. Speaking to Bloomberg, company founder Brendan Foody (21) revealed that the startup generates $7 million in monthly revenue, with $1 million in net profit. He emphasized the company’s growth trajectory, stating, “Our revenue is increasing faster than we can scale our team.”
Brendan Foody is also one of last year’s recipients of the Thiel Fellowship, a prestigious program founded by Peter Thiel that supports young entrepreneurs—provided they leave university to pursue their ventures. Following this latest investment, Foody announced plans to expand Mercor’s team from 75 to over 100 employees by the end of the year.
By integrating AI into recruitment processes, Mercor is disrupting the industry, and with this new funding, the company aims to strengthen its technology infrastructure and expand its presence in global markets.
Leave a Reply