The landscape for web development is being reshaped by artificial intelligence, and Vercel is positioning itself at the forefront of this transformation.
The San Francisco-based cloud platform, essential for building and deploying modern web experiences, has successfully closed a $300 million Series F funding round. This significant capital infusion has propelled the company’s valuation to a staggering $9.3 billion, underscoring intense investor confidence in the future of AI-integrated development tools.
Leading the oversubscribed round were venture capital giant Accel and Singapore’s sovereign wealth fund, GIC. They were joined by a powerful consortium of new backers, including BlackRock, StepStone, and Khosla Ventures, signaling a broad belief in Vercel’s strategic direction.
The company’s platform, which counts industry leaders like OpenAI, Anthropic, PayPal, Nike, and Walmart as clients, has demonstrated remarkable growth. Over the past year, Vercel’s user base has doubled, accompanied by an impressive 82% surge in revenue.
A key driver of this growth is Vercel’s aggressive push into AI. The company is channeling this new capital to expand its AI Cloud services, enhance security, and advance its core AI development agent, v0, which already boasts over 3.5 million users. Further solidifying its ecosystem are its AI Gateway, AI Sandbox, and AI SDK, the latter seeing three million weekly downloads.
In a move to capture developer creativity whenever it strikes, Vercel is also preparing for the general availability of v0 Mobile in October. The new mobile app, already generating buzz with a waitlist exceeding 10,000, allows developers to build applications using voice prompts and camera input from anywhere, syncing seamlessly with their desktop workflow.
Beyond the primary fundraising round, Vercel is facilitating a separate $300 million secondary tender offer. This initiative, expected to conclude in November, will provide liquidity for current and former employees as well as early investors, acknowledging their role in the company’s journey to this pivotal moment.
