TLDR:
– Mercor founders, 21-year-old Thiel Fellows, have developed AI-powered software to vet and interview job candidates with a revenue run rate in the tens of millions and profitability.
– The startup has conducted over 100,000 interviews, evaluated 300,000 people, and is now valued at $250 million following a $32 million Series A funding round.
Mercor, founded by Adarsh Hiremath, Brendan Foody, and Surya Midha, aims to revolutionize the hiring process using AI technology. The young founders dropped out of college to focus on their startup, which initially matched engineers in India with startups requiring coding help. The success of their side hustle led to Mercor’s rapid growth, with a revenue run rate of tens of millions and monthly growth of 50%.
The startup has raised $32 million in a Series A funding round led by Benchmark, Peter Thiel, and other prominent investors, with a valuation of $250 million. Mercor’s AI software conducts interviews, evaluates candidates, and matches them with suitable job openings. The platform has already vetted 300,000 job candidates and boasts a profitable business model.
By automating talent assessment processes and using large language models, Mercor aims to address inefficiencies in the job market and provide opportunities to talented individuals worldwide. The startup’s marketplace connects qualified candidates with employers for various roles, including engineering, product development, design, operations, and content creation.
With plans to publish their methodology in a paper and expand into predicting and automating long-term performance reviews, Mercor envisions a more meritocratic hiring process that benefits both job seekers and employers. The founders’ vision is to create a unified global labor market and provide job opportunities to billions of people worldwide.
