AI recruiting startup Mercor nabs $100M investment at $2B valuation

Mercor Inc., an AI-driven recruiting startup, has secured $100 million in a Series B funding round led by Felicis, with participation from General Catalyst, DST Global, Benchmark, and Menlo Ventures. This investment values the company at $2 billion, significantly up from its previous valuation. Mercor's platform, which boasts over 300,000 users, allows recruiters to input job descriptions into a chatbot interface to find suitable candidates. It also automates application submissions for job seekers and is used by top AI labs, including OpenAI. The company is profitable, expecting a $1 million profit on $7 million in revenue this month, and plans to use the new funds to expand its user base and enhance its AI systems.

In addition to Mercor, other companies are leveraging AI in recruitment. Tezi Inc. raised $7 million for its automated hiring platform, and Google launched Career Dreamer, a tool to help users align their skills with career paths. Mercor plans to increase its workforce from 75 to 100 employees by the end of the year to support its growth initiatives.

Key takeaways

AI recruiting startup Mercor has raised $100 million in a Series B funding round, valuing the company at $2 billion.
Mercor's platform uses AI to streamline recruiting by matching job descriptions with suitable candidates and automating application processes.
The company is profitable, expecting a $1 million profit on $7 million in revenue this month, with a 51% quarter-over-quarter growth rate.
Mercor plans to use the new funding to expand its user base and enhance its AI systems, increasing its workforce from 75 to 100 employees by year-end.

AI recruiting startup Mercor nabs $100M investment at $2B valuation - SiliconANGLE

Key takeaways

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