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Sources: AI training startup Mercor eyes $10B+ valuation on $450 million run rate

techcrunch.com Marina Temkin 2025-10-05 16:36:51

Mercor, a startup that connects companies like OpenAI and Meta with domain experts needed to train and refine their foundational AI models, is in discussions with investors for a Series C round, according to a marketing document viewed by TechCrunch and two sources familiar with the deal talks. Felicis, a returning investor, is considering doubling down on the company for the Series C, according to two sources. Felicis declined to comment. The company is currently targeting a valuation of $10

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AI Startups and the Case of the Allegedly Missing Trade Secrets

gizmodo.com Riley Gutiérrez Mcdermid 2025-10-11 14:50:02

A second lawsuit filed by an artificial intelligence company alleging a former employee stole trade secrets has been filed in California, just days after Elon Musk’s xAI alleged it had recently experienced corporate espionage. In this case, Scale AI, a leading AI data-labeling firm, sued competitor Mercor Inc. in federal court Wednesday, accusing the startup and a former employee of misappropriating trade secrets to win new business. Scale is valued at approximately $29 billion following a mas

Topics: ai ling mercor scale xai
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Elon Musk, AI Startups, and The Case of The Allegedly Missing Trade Secrets

gizmodo.com Riley Gutiérrez Mcdermid 2025-10-12 10:50:02

A second lawsuit filed by an artificial intelligence company alleging a former employee stole trade secrets has been filed in California, just days after Elon Musk’s xAI alleged it had recently experienced corporate espionage. In this case, Scale AI, a leading AI data-labeling firm, sued competitor Mercor Inc. in federal court Wednesday, accusing the startup and a former employee of misappropriating trade secrets to win new business. Scale is valued at approximately $29 billion following a mas

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Scale AI is suing a former employee and rival Mercor, alleging they tried to steal its biggest customers

techcrunch.com Julie Bort 2025-10-15 03:21:30

Scale AI, which helps tech companies prepare data to train their AI models, filed a lawsuit against one of its former sales employees and its rival Mercor on Wednesday. The suit claims the employee, who was hired by Mercor, “stole more than 100 confidential documents concerning Scale’s customer strategies and other proprietary information,” according to a copy seen by TechCrunch. Scale is suing Mercor for misappropriation of trade secrets and is suing the former employee, Eugene Ling, for breac

Topics: customer mercor scale suit techcrunch
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Scale AI still exists and it’s suing an ex-employee over corporate espionage

theverge.com Hayden Field 2025-10-15 19:54:27

is The Verge’s senior AI reporter. An AI beat reporter for more than five years, her work has also appeared in CNBC, MIT Technology Review, Wired UK, and other outlets. It’s been a tumultuous summer for Scale AI: Meta took a multibillion-dollar stake in the company, Mark Zuckerberg hired Scale CEO Alexandr Wang and other top staff, and Scale laid off 14 percent of its workforce. Now the latest development is a lawsuit over corporate espionage in the AI industry. The AI data labeling company, w

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Mercor, an AI recruiting startup founded by 21-year-olds, raises $100M at $2B valuation

techcrunch.com Tage Kene-Okafor 2025-11-14 00:00:00

Mercor, the AI recruiting startup founded by three 21-year-old Thiel Fellows, has raised $100 million in a Series B round, the company confirmed to TechCrunch. Menlo Park-based Felicis led the round, valuing Mercor at $2 billion—eight times its previous valuation, the Wall Street Journal previously reported. Existing investors Benchmark, General Catalyst, and DST Global also participated. General Catalyst had led the company’s $3.6 million seed round in 2023, while Benchmark backed its $32 mil

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