Mercor announced a $750 million Series D on November 10, valuing the AI training and evaluation company at $20 billion. The company explicitly says the transaction included an employee tender, so the headline figure should not be assumed to represent entirely new primary capital received by Mercor.
The round drew participation from Benchmark, Felicis, Fundomo, funds managed by affiliates of Apollo, G Squared, General Catalyst, Glade Brook Capital, NVIDIA, Salesforce, Sapphire Ventures, StepStone Group, XTX Ventures and Zoom. Mercor did not identify a single lead investor or quantify the tender component in the announcement.
Mercor says its network now includes more than five million experts contributing professional knowledge to model training and evaluation. The company is extending the same infrastructure from frontier laboratories to enterprise customers who want to evaluate and post-train agents against actual business workflows.
The company acquired Deeptune earlier in 2026 to build simulated enterprise environments where agents can practice tasks. It argues that companies need benchmarks reflecting their own systems, policies and standards before they can confidently deploy agents in production.
The financing illustrates demand for specialized evaluation data as AI systems move into professional work. Its strategic significance lies in turning expert labor and workflow-specific tests into infrastructure for both model developers and enterprises; the issuer's growth and network claims remain company-reported.