Vercel
Hosts web apps and runs AI Gateway, one endpoint for many model providers with no token markup.
- Revenue
- About $340M run-rate (Apr 2026, reported)
- Value
- $9.3B after a $300M Series F (30 Sep 2025)
- Growth
- Vercel says its gateway has served tens of trillions of tokens across hundreds of models, from more than 200,000 teams. By spend, Anthropic had about 61% and Google about 21% (Apr 2026, Vercel data)
- Based in
- San Francisco, US
- Listed
- Private
Sits inside the tool developers already use to ship websites, so adding AI routing is a small step.
Model access through a gateway is becoming a standard feature of clouds and labs.
Money coming in
Who pays Vercel, and for what.
No customers of Vercel mapped yet.
Money going out
Who Vercel pays to do what it does.
No suppliers of Vercel mapped yet.
Where it sits on the map
Competitors and neighbours
One API that sends requests to hundreds of AI models, billed in one place, with a small margin on each call.
Sacra estimate of about $50M annualised in early 2026. Company does not publish revenue
Open profileRuns a global network and an AI Gateway that routes and caches AI calls for apps, and bought Replicate in Dec 2025.
Open profileAI gateway with monitoring, guardrails and cost controls, sitting between a company's apps and its models.
No figure found
Open profileOpen-source logging and gateway for AI calls. Now part of Mintlify and in maintenance mode.
Last disclosed raise of $1.5M (Apr 2023, per CB Insights). Acquisition price not disclosed
Open profileFree open-source gateway that gives one code interface to many model providers, with a paid enterprise tier.
Seed round co-led by Y Combinator (reported)
Open profileModel router that picks the best model for each request to balance answer quality against cost.
$9M seed led by NEA (Nov 2023). No 2026 funding found
Open profileModel router that predicts which AI model will give the best answer for a prompt at the lowest cost.
About $2.3M raised in 2024, plus an undisclosed 2025 round from strategic investors including IBM and SAP.iO
Open profileMakes ChatGPT, the assistant most people use, and sells its models to businesses through an API.
About $13B revenue in 2025, against about $34B of costs (reported)
Open profileMakes Claude and Claude Code, and is strongest with businesses and software builders.
Annualised revenue run rate above $65B at the end of July 2026, reported from an investor update (Aug 2026)
Open profileSources: infoq.com, rywalker.com, mezha.net, revenuememo.com
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