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Mercor, the AI-powered recruiting startup founded by Thiel Fellows Brendan Foody, Adarsh Hiremath, and Surya Midha, has secured $100 million in a Series B round, led by Felicis, bringing its valuation to $2 billion—8x its previous valuation. Existing investors Benchmark, General Catalyst, DST Global, and Menlo Ventures also participated.
Founded in 2023, Mercor leverages AI to streamline hiring by automating resume screening, candidate matching, AI-powered interviews, and payroll management. Companies like OpenAI use its platform to find top talent efficiently. The startup claims its AI-driven system eliminates bias and enhances hiring precision.
Mercor initially focused on hiring software engineers, but demand has expanded to consultants, PhDs, bankers, doctors, and lawyers. India remains its largest talent source, followed by the U.S., Europe, and South America. With 468,000 applicants evaluated, its revenue has surged to a $75 million ARR, mainly from AI labs.
CEO Brendan Foody believes Mercor reshapes hiring in an AI-driven economy, ensuring workers focus on high-value tasks. He envisions a shift towards fractional, gig-like employment, where companies hire specialists for projects rather than full-time roles