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 billion or more, one person said. That’s up from an $8 billion target valuation that the company discussed a couple of months ago, one person said. However, terms of the final deal could still change.

The company has told potential investors that it already has multiple offers. VCs have been reac

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