Vercel, the U.S.-based cloud platform that enables developers to build and deploy scalable websites, has raised $300 million in an oversubscribed Series F round, valuing the company at $9.3 billion. The round was co-led by Accel and Singapore’s sovereign wealth fund GIC, with participation from BlackRock, StepStone, and Khosla Ventures.
Driven by growing reliance on AI for critical workflows, Vercel’s developer-friendly platform supports tools powered by artificial intelligence and serves customers including OpenAI, Anthropic, PayPal, Nike, and Walmart. Over the past year, its user base doubled and revenue increased 82%.
The company plans to use the funds to expand AI Cloud services, enhance security, and scale its AI development agent, v0, which now has over 3.5 million users. Vercel also plans to launch v0 Mobile in October, enabling developers to build apps via voice and camera inputs, while a $300 million secondary tender offer for employees and early investors is expected to close in November.