# Vercel revenue, valuation & funding

Markdown copy of https://realalpha.app/companies/vercel/ on Real Alpha, the best minutes from long interviews with the people building AI. Cite and link the page, not this copy.

Vercel was valued at $9.3B in its Series F in September 2025, and Forbes reported a $340M yearly run rate in February 2026. It's private with no ticker, and its CEO said in April 2026 that it's ready for an IPO, with no timeline.

Checked Nov 6, 2026

## At a glance

- Valuation: $9.3B at its Series F, in September 2025, co-led by Accel and GIC.
- Revenue: a $340M yearly run rate at the end of February 2026, per Forbes. Sacra estimates $600M in September 2026.
- Status: private. No stock ticker. Its CEO said in April 2026 it's ready for an IPO, with no timeline.
- Founded: 2015, by Guillermo Rauch, under the name ZEIT. Renamed Vercel in April 2020.
- CEO: [Guillermo Rauch](https://realalpha.app/builders/guillermo-rauch/).
- Investors: Accel, GIC, GGV Capital, Bedrock Capital, GV, BlackRock and Tiger Global, among others.
- Products: the Next.js framework, the v0 AI app builder, the AI SDK and its cloud platform for deploying apps.
- Headquarters: San Francisco, California. Wikipedia lists 550 employees in 2025.
- On Real Alpha: 20 moments of its people talking, from 4 interviews

## Is Vercel public? Can you buy its stock?

No. Vercel is a private company, so its shares don't trade on any stock exchange and it has no ticker symbol. [TechnologyChecker](https://technologychecker.io/blog/vercel-statistics-report) found no parent company or acquirer.

Guillermo Rauch said at the HumanX conference in April 2026 that Vercel is ready for an IPO and getting more ready every day ([VKTR](https://www.vktr.com/ai-news/vercel-ceo-signals-ipo/)). He gave no timeline. No IPO filing has been reported.

Its shares are held by its founder, staff and investors. With its Series F in September 2025, Vercel launched a tender offer of about $300M for certain early investors, employees and former employees ([Vercel](https://vercel.com/blog/series-f)). This page reports facts and gives no investment advice.

## Valuation, round by round

Its valuation went from over $2.5B in November 2021 to $9.3B in September 2025, more than tripling.

- Sep 2025 · $9.3B · $300M · Accel and GIC (co-led) · [Vercel's blog](https://vercel.com/blog/series-f)
- May 2024 · $3.25B · $250M · Accel · [SiliconANGLE](https://siliconangle.com/2024/05/16/frontend-development-startup-vercel-valued-3-25b-following-new-250m-round/)
- Nov 2021 · $2.5B+ · $150M · GGV Capital · [Vercel's blog](https://vercel.com/blog/vercel-funding-series-d-and-valuation)
- Jun 2021 · — · $102M · Bedrock Capital · [TechCrunch](https://techcrunch.com/2021/06/23/vercel-raises-102m-series-c-for-its-next-js-based-front-end-development-platform/)

The Series A and B rounds and the value at the Series C haven't been confirmed by a primary report. No round has been reported since September 2025.

## Revenue

Vercel doesn't publish results. Forbes reported its run rate grew from $100M at the start of 2024 to $340M at the end of February 2026, and Sacra estimates $600M by September 2026.

- Sep 2026 · $600M · Estimate · [Sacra](https://sacra.com/c/vercel/)
- Feb 2026 · $340M · Reported · [VKTR (citing Forbes)](https://www.vktr.com/ai-news/vercel-ceo-signals-ipo/)
- May 2024 · $100M · Reported · [SiliconANGLE](https://siliconangle.com/2024/05/16/frontend-development-startup-vercel-valued-3-25b-following-new-250m-round/)

A run rate is a month's revenue times twelve. It isn't a year's audited revenue, and Sacra's figure is an analyst's estimate.

## How Vercel makes money

Vercel charges developers and companies to build and run apps on its platform. Its Hobby plan costs $0 a month, Pro costs $20 a month, and Enterprise plans are custom-priced ([Vercel](https://vercel.com/pricing)).

- **Usage and seats.** Sacra says Vercel bills for compute, bandwidth and storage on top of per-seat Pro and Enterprise plans. · [Sacra](https://sacra.com/c/vercel/)
- **v0 plans.** Sacra says Teams and Enterprise plans bring in more than 50% of v0 revenue. · [Sacra](https://sacra.com/c/vercel/)
- **Margins.** Sacra says v0 earns higher margins than the core infrastructure business. It also warns that heavy token use could pressure margins. · [Sacra](https://sacra.com/c/vercel/)

From Vercel's interviews

- [Agents are starting to buy services directly](https://realalpha.app/s/agents-are-starting-to-buy-services-directly/) · Guillermo Rauch · Sourcery · Oct 16, 2026
- [Open models now handle most token traffic on Vercel](https://realalpha.app/s/open-models-now-handle-most-token-traffic-on-vercel/) · Guillermo Rauch · Sourcery · Oct 16, 2026

## Products

- **Next.js** is the open-source React framework Vercel created. It was downloaded over 500 million times in the 12 months before September 2025. · [Vercel's blog](https://vercel.com/blog/series-f)
- **v0** (2023). An AI tool that builds web apps from plain-language prompts. Sacra dates its general availability to 2024. · [Wikipedia](https://en.wikipedia.org/wiki/Vercel)
- **AI SDK** (2023). A software kit for building chat interfaces that stream their answers. · [Wikipedia](https://en.wikipedia.org/wiki/Vercel)
- **Agent infrastructure.** Vercel introduced a set of new products for its agentic infrastructure platform at its Ship conference in London on June 17, 2026. · [Business Wire](https://www.businesswire.com/news/home/20260701960073/en/Vercel-and-Mercedes-AMG-PETRONAS-Formula-One-Team-Announce-Multi-Year-Strategic-Partnership)
- **Better Auth** is an open-source TypeScript authentication framework. Vercel announced it was acquiring it on July 7, 2026. · [The New Stack](https://thenewstack.io/vercel-acquires-better-auth/)
- **NuxtLabs** is the team behind Nuxt and Nitro. Sacra says Vercel acquired it. · [Sacra](https://sacra.com/c/vercel/)
- **Shadcn** is a UI component collection for React apps. Sacra says Vercel acquired it. · [Sacra](https://sacra.com/c/vercel/)

From Vercel's interviews

- [Agents build context through repeated tool calls](https://realalpha.app/s/agents-build-context-through-repeated-tool-calls/) · Guillermo Rauch · TBPN · Aug 7, 2025
- [Agent-facing products need APIs and CLIs, not just polished UIs](https://realalpha.app/s/agent-facing-products-need-apis-and-clis-not-just-polished/) · Guillermo Rauch · Knuckle Up with Nakul · Aug 25, 2026
- [Coding agents make personalized software viable](https://realalpha.app/s/coding-agents-make-personalized-software-viable/) · Guillermo Rauch · Sourcery · Oct 16, 2026
- [A public challenge helped test Vercel’s agent sandbox](https://realalpha.app/s/a-public-challenge-helped-test-vercels-agent-sandbox/) · Guillermo Rauch · Sourcery · Oct 16, 2026

## Users and usage

Vercel's July 2026 [press release](https://www.businesswire.com/news/home/20260701960073/en/Vercel-and-Mercedes-AMG-PETRONAS-Formula-One-Team-Announce-Multi-Year-Strategic-Partnership) says OpenAI, Ramp, Supreme and millions of developers use Vercel. Its [homepage](https://vercel.com) says Zapier serves over 100 million monthly website visits on Vercel.

[Sacra](https://sacra.com/c/vercel/) estimates that more than 4M people had used v0 by February 2026. Its estimate for September 2025 was 3.5M.

On July 1, 2026 Vercel announced a multi-year partnership with the Mercedes-AMG PETRONAS Formula One Team ([Business Wire](https://www.businesswire.com/news/home/20260701960073/en/Vercel-and-Mercedes-AMG-PETRONAS-Formula-One-Team-Announce-Multi-Year-Strategic-Partnership)). The deal includes plans to move the team's digital platforms to Vercel.

From Vercel's interviews

- [AI agents drove 1.5 billion deployments in ten months](https://realalpha.app/s/ai-agents-drove-1-5-billion-deployments-in-ten-months/) · Guillermo Rauch · Sourcery · Oct 16, 2026

## Leadership

- **[Guillermo Rauch](https://realalpha.app/builders/guillermo-rauch/),** founder and CEO. He started the company as ZEIT in 2015. · [Sacra](https://sacra.com/c/vercel/)
- **[Jeanne Grosser](https://realalpha.app/builders/jeanne-grosser/),** COO. She leads go-to-market after a decade at Stripe as chief business officer and a decade at Google.
- **Keith Messick and Talha Tariq,** chief marketing officer and CTO of Security. Sacra says they were added to build out enterprise leadership. · [Sacra](https://sacra.com/c/vercel/)
- **Mitchell Hashimoto,** board member since March 2026. He co-founded HashiCorp and created Terraform. · [Business Wire](https://www.businesswire.com/news/home/20260701960073/en/Vercel-and-Mercedes-AMG-PETRONAS-Formula-One-Team-Announce-Multi-Year-Strategic-Partnership)
- **Amit Agarwal,** board member since August 2026. He is CEO of Standard Template Labs and a former Datadog president. · [Business Wire](https://www.businesswire.com/news/home/20260701960073/en/Vercel-and-Mercedes-AMG-PETRONAS-Formula-One-Team-Announce-Multi-Year-Strategic-Partnership)

From Vercel's interviews

- [Vercel scales founder ownership through product leaders](https://realalpha.app/s/vercel-scales-founder-ownership-through-product-leaders/) · Guillermo Rauch · Knuckle Up with Nakul · Aug 25, 2026
- [Leaders must explain when their product vision has changed](https://realalpha.app/s/leaders-must-explain-when-their-product-vision-has-changed/) · Guillermo Rauch · Sourcery · Oct 16, 2026
- [Build an operating model to show what must be true](https://realalpha.app/s/build-an-operating-model-to-show-what-must-be-true/) · Jeanne Grosser · Grit · Oct 5, 2026
- [Vercel hires for the ability to direct many agents](https://realalpha.app/s/vercel-hires-for-the-ability-to-direct-many-agents/) · Guillermo Rauch · Sourcery · Oct 16, 2026

## Who owns Vercel?

Its founder, staff and investors. As a private company it doesn't publish who holds what, and no stake sizes have been disclosed.

[Sacra](https://sacra.com/c/vercel/) estimates that Vercel has raised about $863 million to date.

- **Accel** co-led the $300M Series F in September 2025 and led the Series E in May 2024. · [Vercel's blog](https://vercel.com/blog/series-f)
- **GIC** co-led the Series F as a new investor. · [Vercel's blog](https://vercel.com/blog/series-f)
- **GGV Capital** led the $150M Series D in November 2021. · [Vercel's blog](https://vercel.com/blog/vercel-funding-series-d-and-valuation)
- **Bedrock Capital** led the $102M Series C in June 2021. · [TechCrunch](https://techcrunch.com/2021/06/23/vercel-raises-102m-series-c-for-its-next-js-based-front-end-development-platform/)
- **BlackRock, StepStone, Khosla Ventures, Schroders, General Catalyst, GV, Salesforce Ventures and Tiger Global** were among the investors in the Series F. · [Sacra](https://sacra.com/c/vercel/)

## Competitors

[Sacra](https://sacra.com/c/vercel/) names the large cloud providers and AI coding assistants as competition for Vercel and v0.

- **[AWS](https://realalpha.app/companies/#aws), Google Cloud and Microsoft Azure,** which Sacra says keep improving their developer experience. · [Sacra](https://sacra.com/c/vercel/)
- **GitHub Copilot** and other AI-assisted code editors, which Sacra names as competition for v0. · [Sacra](https://sacra.com/c/vercel/)

## Timeline and latest news

- Sep 2026 · Sacra estimated its yearly run rate at $600M. · [Sacra](https://sacra.com/c/vercel/)
- Aug 2026 · Appointed former Datadog president Amit Agarwal to its board. · [Business Wire](https://www.businesswire.com/news/home/20260701960073/en/Vercel-and-Mercedes-AMG-PETRONAS-Formula-One-Team-Announce-Multi-Year-Strategic-Partnership)
- Jul 7, 2026 · Announced it was acquiring Better Auth, an open-source authentication framework. · [The New Stack](https://thenewstack.io/vercel-acquires-better-auth/)
- Jul 1, 2026 · Announced a multi-year partnership with the Mercedes-AMG PETRONAS Formula One Team. · [Business Wire](https://www.businesswire.com/news/home/20260701960073/en/Vercel-and-Mercedes-AMG-PETRONAS-Formula-One-Team-Announce-Multi-Year-Strategic-Partnership)
- Jun 17, 2026 · Introduced new agent infrastructure products at its Ship conference in London. · [Business Wire](https://www.businesswire.com/news/home/20260701960073/en/Vercel-and-Mercedes-AMG-PETRONAS-Formula-One-Team-Announce-Multi-Year-Strategic-Partnership)
- Apr 19, 2026 · Disclosed a security breach traced to the third-party AI tool Context.ai. · [The Hacker News](https://thehackernews.com/2026/04/vercel-breach-tied-to-context-ai-hack.html)
- Apr 2026 · Guillermo Rauch said at HumanX that Vercel is ready for an IPO. · [VKTR](https://www.vktr.com/ai-news/vercel-ceo-signals-ipo/)
- Mar 18, 2026 · Appointed HashiCorp co-founder Mitchell Hashimoto to its board. · [Business Wire](https://www.businesswire.com/news/home/20260701960073/en/Vercel-and-Mercedes-AMG-PETRONAS-Formula-One-Team-Announce-Multi-Year-Strategic-Partnership)
- Feb 2026 · Its run rate reached $340M, according to Forbes. · [VKTR (citing Forbes)](https://www.vktr.com/ai-news/vercel-ceo-signals-ipo/)
- Sep 30, 2025 · Raised $300M at a $9.3B valuation, co-led by Accel and GIC. · [Vercel's blog](https://vercel.com/blog/series-f)
- May 16, 2024 · Raised $250M at a $3.25B valuation, led by Accel. · [SiliconANGLE](https://siliconangle.com/2024/05/16/frontend-development-startup-vercel-valued-3-25b-following-new-250m-round/)
- Nov 23, 2021 · Raised $150M at a valuation above $2.5B, led by GGV Capital. · [Vercel's blog](https://vercel.com/blog/vercel-funding-series-d-and-valuation)
- Jun 23, 2021 · Raised a $102M Series C led by Bedrock Capital. · [TechCrunch](https://techcrunch.com/2021/06/23/vercel-raises-102m-series-c-for-its-next-js-based-front-end-development-platform/)
- Apr 2020 · ZEIT was renamed Vercel. · [Wikipedia](https://en.wikipedia.org/wiki/Vercel)

## Legal matters

On April 19, 2026 Vercel disclosed a security breach in which unauthorized actors accessed certain internal systems ([The Hacker News](https://thehackernews.com/2026/04/vercel-breach-tied-to-context-ai-hack.html)). It traced the breach to the compromise of Context.ai, a third-party AI tool used by an employee. Vercel said it is working with Mandiant and law enforcement.

No lawsuit or regulator action against Vercel has been reported.

## In their own words, and what followed

- [Agents build context through repeated tool calls](https://realalpha.app/s/agents-build-context-through-repeated-tool-calls/) · Guillermo Rauch · TBPN · Aug 7, 2025
  > “what an agent is, it's a loop of tool calling that builds up context over time.”
  Reported after · Sacra estimates more than 4M people had used v0 by February 2026, up from 3.5M in September 2025. · [Sacra](https://sacra.com/c/vercel/)

- [Engineering shifts from writing code to building the software factory](https://realalpha.app/s/engineering-shifts-from-writing-code-to-building-the/) · Guillermo Rauch · Knuckle Up with Nakul · Aug 25, 2026
  > “I work on the output to I work on the machine that produces the output.”
  Reported after · Sacra estimates Vercel's run rate reached $600M in September 2026, up from $340M in February as reported by Forbes. · [Sacra](https://sacra.com/c/vercel/)

## What others say about Vercel

- [AI automates routine marketing work, not creative judgment](https://realalpha.app/s/ai-automates-routine-marketing-work-not-creative-judgment/) · Alli Pope · MTS · Oct 29, 2026
  > “it's not historically traditional that marketing organizations are shipping PRs on a daily basis.”
- [Useful model routing needs to understand the agent harness](https://realalpha.app/s/useful-model-routing-needs-to-understand-the-agent-harness/) · Harrison Chase · 20VC · Oct 17, 2026
  > “a lot of why people use open router and Vercel and other gateways is largely for the model access.”
- [Agents automate code but still face business decisions](https://realalpha.app/s/agents-automate-code-but-still-face-business-decisions/) · Han Wang · MTS · Oct 16, 2026
  > “it's always deployed on Vercel.”
- [Local data gaps make AI answers about officials unreliable](https://realalpha.app/s/local-data-gaps-make-ai-answers-about-officials-unreliable/) · Sunil Rajaraman · MTS · Oct 22, 2026
  > “Vercel helps us with preview deployments.”
- [Software 3.0 makes some apps unnecessary](https://realalpha.app/s/software-3-0-makes-some-apps-unnecessary/) · Andrej Karpathy · Training Data · Apr 29, 2026
  > “it runs on Vercel”

## Questions people ask

### Is Vercel a public company? Can I buy Vercel stock?

No. Vercel is private and has no ticker, so its shares aren't sold on any exchange.

### When will Vercel IPO?

Guillermo Rauch said in April 2026 that Vercel is ready for an IPO ([VKTR](https://www.vktr.com/ai-news/vercel-ceo-signals-ipo/)). He gave no timeline, and no filing has been reported.

### Who owns Vercel?

Its founder, staff and investors, including Accel, GIC, GGV Capital, Bedrock Capital, GV and Tiger Global. Stakes haven't been disclosed.

### Who is the CEO of Vercel?

[Guillermo Rauch](https://realalpha.app/builders/guillermo-rauch/), who founded the company in 2015.

### Who founded Vercel?

Guillermo Rauch, in 2015, under the name ZEIT. It was renamed Vercel in April 2020.

### How much is Vercel worth?

$9.3B at its Series F in September 2025 ([Vercel](https://vercel.com/blog/series-f)). No later round has been reported.

### How much revenue does Vercel make?

A $340M yearly run rate at the end of February 2026, per [Forbes](https://www.vktr.com/ai-news/vercel-ceo-signals-ipo/). Sacra estimates $600M in September 2026.

### Is Vercel profitable?

It doesn't publish profit or loss figures. [Sacra](https://sacra.com/c/vercel/) says v0 earns higher margins than its infrastructure business but that token costs could pressure margins.

### How does Vercel make money?

From usage-based charges for compute, bandwidth and storage, plus paid plans. Pro costs $20 a month and Enterprise is custom-priced ([Vercel](https://vercel.com/pricing)).

### How many people use Vercel?

Vercel says millions of developers use it, along with OpenAI, Ramp and Supreme. [Sacra](https://sacra.com/c/vercel/) estimates more than 4M people had used v0 by February 2026.

### Where is Vercel headquartered?

San Francisco, California.

### Who are Vercel's competitors?

Sacra names AWS, Google Cloud and Microsoft Azure, plus AI coding assistants such as GitHub Copilot.

## Every moment from Vercel's people

### Vercel CEO Guillermo Rauch on Building the Internet for Agents
Sourcery · Oct 16, 2026

- [Open models now handle most token traffic on Vercel](https://realalpha.app/s/open-models-now-handle-most-token-traffic-on-vercel/) · 7 min
- [A public challenge helped test Vercel’s agent sandbox](https://realalpha.app/s/a-public-challenge-helped-test-vercels-agent-sandbox/) · 5 min
- [AI agents drove 1.5 billion deployments in ten months](https://realalpha.app/s/ai-agents-drove-1-5-billion-deployments-in-ten-months/) · 4 min
- [Coding agents make personalized software viable](https://realalpha.app/s/coding-agents-make-personalized-software-viable/) · 8 min
- [Engineers should manage agents, not blindly ship their code](https://realalpha.app/s/engineers-should-manage-agents-not-blindly-ship-their-code/) · 3 min
- [Vercel hires for the ability to direct many agents](https://realalpha.app/s/vercel-hires-for-the-ability-to-direct-many-agents/) · 6 min
- [Agents are starting to buy services directly](https://realalpha.app/s/agents-are-starting-to-buy-services-directly/) · 6 min
- [Leaders must explain when their product vision has changed](https://realalpha.app/s/leaders-must-explain-when-their-product-vision-has-changed/) · 4 min

### How Vercel Is Rethinking Go-to-Market With AI | COO Jeanne Grosser
Grit · Oct 5, 2026

- [Never accept a founder's forecast without the pipeline math](https://realalpha.app/s/never-accept-a-founders-forecast-without-the-pipeline-math/) · 3 min
- [Build an operating model to show what must be true](https://realalpha.app/s/build-an-operating-model-to-show-what-must-be-true/) · 4 min
- [Vercel runs support, BDR and RevOps with agents](https://realalpha.app/s/vercel-runs-support-bdr-and-revops-with-agents/) · 3 min

### Inside Vercel's AI-era playbook: "Recursive Founder Mode" | Guillermo Rauch (CEO)
Knuckle Up with Nakul · Aug 25, 2026

- [Vercel scales founder ownership through product leaders](https://realalpha.app/s/vercel-scales-founder-ownership-through-product-leaders/) · 5 min
- [Vercel tests candidates by asking them to build](https://realalpha.app/s/vercel-tests-candidates-by-asking-them-to-build/) · 4 min
- [Vercel gives employees one agent as a front door](https://realalpha.app/s/vercel-gives-employees-one-agent-as-a-front-door/) · 7 min
- [Engineering shifts from writing code to building the software factory](https://realalpha.app/s/engineering-shifts-from-writing-code-to-building-the/) · 3 min
- [Vercel replaces analytics ticket queues with an internal agent](https://realalpha.app/s/vercel-replaces-analytics-ticket-queues-with-an-internal/) · 3 min
- [Security review costs can vary sevenfold across models](https://realalpha.app/s/security-review-costs-can-vary-sevenfold-across-models/) · 3 min
- [Vercel encodes design taste into reusable components and agents](https://realalpha.app/s/vercel-encodes-design-taste-into-reusable-components-and/) · 3 min
- [Agent-facing products need APIs and CLIs, not just polished UIs](https://realalpha.app/s/agent-facing-products-need-apis-and-clis-not-just-polished/) · 4 min

### OpenAI LIVE: Greg Brockman, Mark Chen & More
TBPN · Aug 7, 2025

- [Agents build context through repeated tool calls](https://realalpha.app/s/agents-build-context-through-repeated-tool-calls/) · 3 min

## People on Real Alpha

- [Guillermo Rauch](https://realalpha.app/builders/guillermo-rauch/), Founder & CEO, Vercel
- [Jeanne Grosser](https://realalpha.app/builders/jeanne-grosser/), COO, Vercel

## How this page is sourced

Each figure links to the filing, company statement or news report it came from, with its date. Run rates are what reporters were told, not audited results; estimates and unconfirmed reports are marked. Quotes are what each person said on the record, with the minute they said it.