In the tech hub of San Francisco, where startups rise and fall with the tides of innovation, Mercor has emerged as a standout player in the rapidly evolving world of generative artificial intelligence (AI). Founded just two years ago by three college dropouts—Brendan Foody, Adarsh Hiremath, and Surya Midha—the company has quickly become a key connector between specialized talent and the growing demand for AI development. Today, Mercor, a firm funded by the leading venture firm Felicis in its latest funding round, jumped its valuation to $2 billion. Such a valuation makes its young journey really impactful.
Mercor's story started in early 2023, when Brendan Foody, Adarsh Hiremath, and Surya Midha, former high school classmates and debate partners, decided to take a leap of faith. After ending their sophomore years at Georgetown and Harvard, the trio dropped college to pursue their budding startup full-time. What started out as a side hustle—to connect engineers in India with startups needing freelance coding help — quickly started taking off. Mercor generated $1 million in annual revenue and $80,000 in profit all within months and with no funding at all.
The founders were driven by a shared belief in the untapped potential of global talent. “We were fascinated by labor, and how brilliant people all around the world aren’t getting opportunities,” explained Foody, Mercor’s CEO. “Applying large language models and automating the processes associated with talent assessment, we can solve this inefficiency.”
