Mercor has secured $350 million in funding, raising its valuation to $10 billion. The Series C round was led by Felicis Ventures, which had also led its previous Series B round. Other notable investors include Benchmark, General Catalyst, and new participant Robinhood Ventures. Initially targeting a valuation of $8 billion, Mercor's rapid growth and multiple offers from investors pushed it to reach the higher figure. Originally an AI hiring platform, Mercor shifted its focus to connecting AI labs with specialized domain experts—like scientists and lawyers—for training AI models. The company charges an hourly fee for matching these experts with clients. It’s also enhancing its software infrastructure for reinforcement learning, which allows AI models to learn from feedback. Mercor is on track to achieve $500 million in annual recurring revenue sooner than Anysphere, which took about a year to reach the same figure after launching its core product. The company is currently spending over $1.5 million daily on its contractors, who average $85 per hour. With more than 30,000 experts in its network, Mercor aims to expand its talent pool, refine its matching systems, and develop new automation products. This growth comes amid notable shifts in the AI sector, particularly following major investments like Meta's $14 billion in Scale AI, which impacted relationships within the industry.