Vercel, an AI startup known for developing cloud-based tools that help companies build Web and AI applications, has raised $300 million in a new funding round led by Accel and GIC, Singapore’s sovereign wealth fund. The round values the company at $9.3 billion, highlighting growing investor confidence in AI infrastructure platforms.
New investors BlackRock, StepStone, Khosla Ventures, Schroders, Adams Street Partners, and General Catalyst also joined the round. As part of the deal, the company launched a tender offer that allows early backers and employees to sell about $300 million worth of shares. Vercel plans to use the fresh capital to continue developing its AI Cloud platform and its AI development agent, v0, which already has more than 3.5 million users.
Chief Executive Officer Guillermo Rauch stated, “Vercel has been the best place to build Web applications for a decade, and as AI fundamentally changes what applications look like, we’ve built the infrastructure to match that reality.” The company’s growing customer base includes Adobe, OpenAI, and Stripe, and it continues to expand its leadership team with executives from Stripe, Capital One, and HashiCorp to support its next phase of growth.