capital · May 20, 2026

Mercor Valued at $10 Billion After $350 Million Series C Raises Amid AI Contractor Demand Surge

Mercor was on pace to hit over $1 billion in annualized revenue earlier in 2026 from its AI training business before the data leak. The company raised $350 million in its Series C round that valued it at $10 billion. Mercor provides human contractors for AI model training alongside competitors like Handshake, which saw its AI training gross annualized revenue rise to nearly $1 billion. Mercor crossed the $1 billion mark earlier this year up from $500 million in September 2025 with net revenue of $300 million to $400 million after contractor costs. The company achieved free cash flow profitability prior to the March 2026 breach.