Mercor, an AI-powered hiring startup, secured $100 million in Series B funding on Thursday, pushing its valuation to $2 billion. Just five months ago, the company was worth $250 million after raising $30 million in its Series A round in September.
Since its launch, Mercor has processed 300,000 candidates and conducted over 100,000 interviews. Its AI models mimic human hiring processes by reviewing resumes, conducting interviews, and making recommendations. While Mercor serves top AI labs, CEO Joe Foody did not disclose specific clients.
With the new funding, Mercor plans to enhance its AI technology and expand its candidate vetting capabilities. Foody emphasized the importance of improving data to drive better hiring outcomes.
The company has grown its revenue by over 51% each month for the past six months. The most in-demand jobs include software engineering, medicine, law, and banking. Mercor is profitable, with a revenue run rate exceeding $75 million.
Foody believes AI will soon dominate hiring, making the process fully automated. He also sees potential applications in higher education, where AI could streamline admissions and recruitment.
“The shift to automation is inevitable—not just because it’s cheaper, but because AI hiring is far more effective than any human-driven process,” Foody said.