Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration
(Reuters) -Vercel, the U.S.-based cloud platform that helps developers build and quickly deploy scalable websites, said on Tuesday it had raised $300 million in an oversubscribed Series F round, valuing the startup at $9.3 billion.
The round was co-led by venture capital firm Accel and Singapore sovereign wealth fund GIC, with new investors including BlackRock, StepStone and Khosla Ventures.
Growing reliance on AI for critical workflows is driving both investor capital into AI infrastructure and demand for developer‑friendly platforms like Vercel.
Silicon Valley-based Vercel helps developers build websites and applications, including tools powered by artificial intelligence. Its customers include OpenAI, Anthropic, PayPal, Nike and Walmart.
Vercel said its user base doubled over the past year and revenue rose 82%.
The company plans to use the funds to expand its AI Cloud services, strengthen security features and invest in its AI development agent, v0, which it says has more than 3.5 million users.
It is also preparing to launch v0 Mobile in October, allowing developers to build apps using voice and camera inputs.
Separately, the company expects a $300 million secondary tender offer for employees, former employees and early investors to close in November.
(Reporting by Kritika Lamba in Bengaluru; Editing by Tasim Zahid)
