SAN FRANCISCO (Diya TV) – Mercor, a new AI hiring platform, has announced raising $30 million in Series A funding at a valuation of $250 million, the company said. The round, led by Victor Lazarte and Bill Gurley of Benchmark, included participation from a group of marquee investors, including General Catalyst, Peter Thiel, Jack Dorsey, Adam D’Angelo, Larry Summers, and Chris Re. The company also stated that Lazarte will join the board of Mercor, which would help the firm grow further.
Mercor is going to reform the hiring process by using AI for better skill assessment of candidates that may predict their performance in specific roles. The company will go beyond the traditional resume-based selection.
Founded by Brendan Foody, Adarsh Hiremath, and Surya Midha, Mercor enables high-tech firms and the world’s top AI labs to hire the world’s finest talent and profession from software engineering to law, chemistry, finance, and beyond. Having met in Bay Area high school debate competitions, the trio honed the concept as college freshmen at Georgetown and Harvard. All three dropped out in 2023 to pursue Mercor after winning the elite Thiel Fellowship.
“We believe every applicant deserves a fair opportunity for an interview when applying to work somewhere,” said Brendan Foody, co-founder and CEO of Mercor. “Today’s hiring process too often chooses candidates for human activities on signals in resumes rather than human ability. AI can do better.”
Since its launch, Mercor has collected more than 300,000 additions to the candidate pool and has created thousands of jobs worldwide. With this platform, AI models are much better at gauging the skill set of a candidate, then predicting their success in that given role. Such innovation changes the traditional approaches to the traditional method of hiring a new employee to help businesses make better-fit candidates much more efficiently.
The current funding announcement highlights a growing interest in AI-driven solutions at the hiring industry level. The investors believe that an AI-driven approach by Mercor will introduce a new standard by which recruitment practices are conducted. This funding announcement comes with free resume and interview feedback offered to candidates, thereby providing tools historically inaccessible or expensive.
