Companies · Software / Tech

Mercor.io Corp

SAN FRANCISCO · Software / Tech · refined from filed group “Other Technology

Diligence memoA one-page analyst read on Mercor.io Corp — recommendation, valuation, rhythm, risks.
$468.6M
Total raised · real
3
Rounds
3.2×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Fri Oct 10 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Mercor.io Corp looks over-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the technology sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Over-valued
  • Modeled value is 2.02× the median modeled value of Series D+ Software / Tech companies in 2025–2027 (22 peers) — value vs value, same stage and era.
Active
  • Last raise 9 mo ago; this sector typically re-raises about every 13 months.
  • Raising on or ahead of the sector's normal rhythm.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Software / Tech

Mercor.io Corp is one of 3920 Software / Tech companies tracked from SAN FRANCISCO. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
21
Investors (latest)
2022
Year incorporated
2025-10-10
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$1.3B$2.5B$3.8B$5.0BSeries B · 2024-06-13 Raised $35M (real) Modeled valuation $264M (est)$35M$264MSeries B2024Series D+ · 2024-11-22 Raised $104M (real) Modeled valuation $1.1B (est)$104M$1.1BSeries D+2024Series D+ · 2025-10-10 Raised $330M (real) Modeled valuation $2.8B (est)$330M$2.8BSeries D+2025+$104M+$330MCumulative $469M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series B$34.7M · 2024
Series D+$103.6M · 2024no Series C on file
Series D+ extension$330.4M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$2.8B
Base estimate est.
$1.8B
Conservative case
$3.3B
Upside case
$2.8B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Series B · modeled $263.6M · 2024-06-132024Series D+ · modeled $1.1B · 2024-11-22Series D+ · modeled $2.8B · 2025-10-102025
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
67% low · 92% high
1.29×/yr
Annual markup
1.44×/yr upside case
0.7 yr
Elapsed time used
0.7 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
8 mo
Avg between rounds
$353.7M/yr
Capital velocity
2.1 yr
On record since
2024
First round
3
Rounds on file
How it compares to the market

Benchmarked against 3920 companies in Software / Tech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 102× above median
This company$468.6M
Sector median$4.6M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 2.2× above median
This company$330.4M
Sector median$150.0M
Modeled value — vs sector median (estimate, all stages) 75× above median
This company$2.8B
Sector median$36.6M

Raised more than 99% of sector peers (real $). Modeled value above 99% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #2 of 22.

This companyCohort peer
$1.0B$10.0B$100.0M$1.0B$10.0BCapital raised (log)Saronic Technologies, Inc. · Series D+ Raised $523.3M · modeled $3.4B (est)Clearwater Analytics Holdings, Inc. · Series D+ Raised $261.8M · modeled $2.4B (est)Mercury Technologies, Inc. · Series D+ Raised $221.3M · modeled $1.9B (est)Bitmine Immersion Technologies, Inc. · Series D+ Raised $258.3M · modeled $1.9B (est)Elise A.I. Technologies Corp. · Series D+ Raised $320.9M · modeled $1.8B (est)Ontic Technologies, Inc. · Series D+ Raised $196.4M · modeled $1.6B (est)Luminary Cloud, Inc. · Series D+ Raised $187.0M · modeled $1.5B (est)Bancar Technologies Ltd · Series D+ Raised $1.1B · modeled $1.5B (est)Oxide Computer Co · Series D+ Raised $265.2M · modeled $1.5B (est)Motive Technologies, Inc. · Series D+ Raised $408.0M · modeled $1.4B (est)Starburst Labs, Inc. · Series D+ Raised $178.3M · modeled $1.3B (est)Mercor.io Corp (this company) Raised $468.6M · modeled $2.8B (est)Mercor.io Corp
CompanyStageRaised · realValue · estvs peer med.
Saronic Technologies, Inc.Series D+$523.3M$3.4B2.51×
Mercor.io Corp this companySeries D+$468.6M$2.8B2.02×
Clearwater Analytics Holdings, Inc.Series D+$261.8M$2.4B1.79×
Mercury Technologies, Inc.Series D+$221.3M$1.9B1.41×
Bitmine Immersion Technologies, Inc.Series D+$258.3M$1.9B1.40×
Elise A.I. Technologies Corp.Series D+$320.9M$1.8B1.34×
Ontic Technologies, Inc.Series D+$196.4M$1.6B1.20×
Luminary Cloud, Inc.Series D+$187.0M$1.5B1.13×
Bancar Technologies LtdSeries D+$1.1B$1.5B1.10×
Oxide Computer CoSeries D+$265.2M$1.5B1.07×
Motive Technologies, Inc.Series D+$408.0M$1.4B1.01×
Starburst Labs, Inc.Series D+$178.3M$1.3B0.99×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series B$34.7M2024-06-13$192.7M$263.6M90%
Series D+$103.6M2024-11-22$863.0M$1.1B90%
Series D+$330.4M2025-10-10$2.8B$2.8B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series B$34.7M2024-06-13
    • First recorded raise — entered as Series B.
    • 70 investors on this round.
  2. Series D+$103.6M2024-11-22
    • Came back fast: 5 mo vs the ~13 mo sector norm.
    • Round 3.0× larger than the prior — scaling up.
    • 26 investors on this round.
  3. Series D+$330.4M2025-10-10
    • Raised 11 mo later, in step with the ~13 mo sector norm.
    • Round 3.2× larger than the prior — scaling up.
    • 21 investors on this round.
Intelligence
2026 ~Q2
Modeled next raise · ~8mo cadence
$991.2M
Modeled next size est.range $644.3M$1.6B
3.2×
Last step-up
$353.7M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Peter Fenton15 other2024-06
Adarsh Hiremath2024-06
Brendan Foody2024-06
Sundeep Jain2024-06
Surya Midha2024-06
Registry & provenance

Mercor.io Corp is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
2103986
SEC CIK
2022
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
ICON Technology, Inc.Software / TechSeries D+$474.8M$557.6Msame sector · same stage
ABL Space Systems CoSoftware / TechSeries D+$480.3M$537.1Msame sector · same stage
Saronic Technologies, Inc.Software / TechSeries D+$523.3M$3.4Bsame sector · same stage
Motive Technologies, Inc.Software / TechSeries D+$408.0M$1.4Bsame sector · same stage
Apex Technology, Inc.Software / TechSeries D+$405.3M$1.3Bsame sector · same stage
Span.IO, Inc.Software / TechSeries D+$384.1M$1.3Bsame sector · same stage
Mapr Technologies, Inc.Software / TechSeries D+$347.5M$4.8Bsame sector · same stage
Fever Labs, Inc.Software / TechSeries D+$347.2M$1.1Bsame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Mero Technologies Inc.Software / TechPre-Seed$11.0M83%
Sportcor Technologies LtdSoftware / TechPre-Seed$6.8M82%
Solcoro LLCOther TechnologySeed$13.8M81%
H Technologies Inc.Software / TechSeries A$136.2M81%
Mercury Technologies, Inc.Software / TechSeries D+$1.9B81%
Hudu Technologies, Inc.Software / TechSeries A$44.7M81%
Arcanum Technology, LLCSoftware / TechPre-Seed$4.2M80%
Halcyon Tech, Inc.Software / TechSeries D+$1.3B80%
Frequently asked
How much funding has Mercor.io Corp raised?
Mercor.io Corp has raised approximately $468.6M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Mercor.io Corp's estimated valuation?
Provath's modeled valuation for Mercor.io Corp is approximately $2.8B (modeled range $1.8B–$3.3B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Mercor.io Corp at?
Mercor.io Corp's latest modeled financing stage is Series D+. Its most recent recorded round closed around Fri Oct 10.
What does Mercor.io Corp do and where is it based?
Mercor.io Corp operates in the Software / Tech sector, based in SAN FRANCISCO.
Explore related

See where Mercor.io Corp sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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