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March 27, 2025 - Deals
Mercury Raises $300 Million In Series C Funding Led By Sequoia Capital
Mercury, a digital banking startup founded in 2017 by CEO Immad Akhund, raised $300 million in Series C funding led by Sequoia, doubling its valuation to $3.5 billion. The round included participation from Coatue, CRV, Andreessen Horowitz, Spark Capital, and Marathon, bringing Mercury’s total funding to $500 million. Mercury, which serves over 200,000 companies and generated $500 million in revenue in 2024, plans to use the new capital for acquisitions and hiring. The company has seen 10 consecutive quarters of profitability and plans to expand into consumer banking later this year.
INVESTORS: Spark Capital, Sequoia Capital, Marathon Management Partners, CRV, Coatue & Andreessen Horowitz
ROUND: Series C
AMOUNT: $300,000,000
VALUATION: $3,500,000,000
HQ: #SanFrancisco #California
#VentureCapital #Mercury #ImmadAkhund #SparkCapital #SequoiaCapital #MarathonManagementPartners #CRV #Coatue #AndreessenHorowitz #TradedVC
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Hugging Face Explores Sale Valuing Open-Source AI Platform At $13 BillionHugging Face is exploring a potential sale that could value the open-source AI platform at $13 billion or more, nearly tripling its $4.5 billion valuation from its $235 million Series D in 2023. Founded by Clément Delangue, Julien Chaumond and Thomas Wolf, the company has grown to 13 million users and more than 2 million public AI models, while CEO Delangue has previously favored independence and an eventual IPO over a sale.
FOUNDERS: Clément Delangue, Julien Chaumond & Thomas Wolf
VALUATION: $13,000,000,000,000+
HQ: New York, New York
#VentureCapital #HuggingFace #ClémentDelangue #TradedVC