Mercor, an AI-driven recruitment startup, has achieved a significant milestone by securing a valuation of $2 billion following a recent funding round led by Felicis, which injected $75 million into the company. Founded two years ago by Brendan Foody, Adarsh Hiremath, and Surya Midha, Mercor specializes in connecting experts from various fields with contract positions to aid in the development of generative AI models. Notably, the company counts industry leader OpenAI among its clients.

Mercor has reported an impressive $50 million annual revenue run rate, experiencing a 40% month-over-month growth. Operating with a lean team of approximately 30 employees, primarily in their early twenties, the company utilizes AI-conducted interviews to efficiently match candidates with suitable roles. The firm's revenue model includes charging finders' fees for successful placements.

The recent funding round saw participation from prominent investors, including General Catalyst, Peter Thiel, Jack Dorsey, Larry Summers, and Menlo Ventures' Anthology Fund. This substantial financial backing underscores the growing interest and investment in AI-driven solutions within the recruitment sector.

Mercor's rapid ascent reflects a broader trend of increased venture investment in AI technologies, highlighting the transformative potential of artificial intelligence across various industries.

External resource-https://www.wsj.com/articles/ai-recruiting-startup-mercor-rockets-to-2-billion-valuation-9698dbdc?mod=ai_lead_pos2