Funding round
Mercury Series D
Mercury, which works in business banking services in San Francisco, raised $200M in a Series D round announced on 20 May 2026, led by Technology Crossover Ventures, at a $5.20B post-money valuation. 7 firms took part, 6 of them already investors. It is Mercury's fourth venture round on record; the one before was a Series C in Mar 2025.
$200M
Amount raised
$5.20B
Post-money valuation
$5.00B pre-money
7
Investors
1 lead
1.5x
Step-up from the Series C
$3.50B in Mar 2025
3.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Mercury at $5.20B after the new money, 1.5 times the $3.50B of its Series C (Mar 2025). The $200M bought investors about 3.8% of the company. It came 14 months after Mercury's Series C. It is 31% of the $640M Mercury has raised in the venture rounds on record. No later venture round is on record for Mercury.
Mercury's funding rounds
Mercury has 4 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 25 Sep 2019, led by CRV $20M
- Series B 30 Jul 2021, led by Coatue $120M$1.62B post-money
- Debt not a venture round 9 Oct 2024, led by Natixis Corporate & Investment Banking $100M
- Series C 25 Mar 2025, led by Sequoia Capital $300M$3.50B post-money
- Series D this round 20 May 2026, led by Technology Crossover Ventures $200M$5.20B post-money
Investors
Who put money in
Technology Crossover Ventures led the round with 6 other firms. Andreessen Horowitz, Coatue, CRV and Sapphire Ventures and 2 more had backed Mercury before.
Lead investor
- Technology Crossover Ventures backs 86 venture-backed companies new investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- Coatue backs 229 venture-backed companies existing investor
- CRV backs 177 venture-backed companies existing investor
- Sapphire Ventures backs 148 venture-backed companies existing investor
- Sequoia Capital backs 589 venture-backed companies existing investor
- Spark Capital backs 234 venture-backed companies existing investor
Comparable rounds
How it compares
The closest in time: 2 in Banks & ATMs, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Allica Bank Banks & ATMs | 25 Feb 2026 | $155M | $1.20B | Ventura Capital |
| WeLab Banks & ATMs | 15 Jan 2026 | $220M | not disclosed | not named |
| Biotechnology | 6 May 2026 | $220M | not disclosed | Venrock |
| Investment Consultants & Financial Advisors | 21 May 2026 | $150M | $1.00B | General Atlantic |
| Pharmaceutical Products | 18 May 2026 | $150M | not disclosed | Vivo Capital |
| Tech Companies | 12 May 2026 | $120M | $670M | One Peak |
| Medical Laboratories | 27 May 2026 | $52M | not disclosed | Mattias Westman and global, large, long-only active manager |
| Medical Supply Manufacturers | 19 May 2026 | $41M | not disclosed | US Venture Partners and Astoria Health Investors |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Mercury raise in its Series D round?
Mercury raised $200M in its Series D round, announced in May 2026.
Who led Mercury's Series D round?
Technology Crossover Ventures led it, with Andreessen Horowitz, Coatue, CRV, Sapphire Ventures and Sequoia Capital and 1 more.
What was Mercury's valuation at the Series D round?
$5.20B post-money ($5.00B pre-money).