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The Late Stage 50 · 2026 edition · #32 of 50

Vercel

Vercel provides cloud infrastructure for building and deploying apps and AI agents, and is the team behind Next.js and the AI SDK.

US$500m+Run-rate · Jul 2026
—growth not disclosed
#32rank by disclosed revenue

The figure

Revenue
crossed $500 million in annualized run-rate revenue
Run-rate · Jul 20261Business Wire · 6 Aug 2026
In US dollars
US$500m+
as stated
Standing
stated
Company stated — via Business Wire
Published
6 Aug 2026
accessed 17 Oct 2026
Evidence
“the company crossed $500 million in annualized run-rate revenue in early July” — as read on the source page1Business Wire · 6 Aug 2026
Prior year
run rate of US$340 million
Run-rate · Feb 20262TechCrunch · 13 Apr 2026
Growth
—
no comparable year-on-year figure: rates over periods shorter than a year, or built on floors or approximations, are not shown

Context

Founded
2015
Headquarters
San Francisco, United States
Sector
Software
Developer cloud / agentic infrastructure
IA40 2026
Enabler · #11
on the list 4× (2023–2026)4IA40 · 19 Oct 2026
Website
vercel.com
Valuation
US$9.3bn
Series F · Sept 2025 · as reported, not part of the ranking5Vercel
Status
Private as of 17 October 2026
TechCrunch 13 Apr 2026: CEO signals IPO readiness, last valued US$9.3bn at the Series F. Company release of 6 Aug 2026 carries no ticker.2status check · 17 Oct 2026

Market context

Forge Price
$224.99 per share
Forge Accuidity Private Market Index constituent · weight 0.85%6Forge Global · 17 Oct 2026
Forge valuation
$10.42B
implied from the Forge Price6Forge Global · 17 Oct 2026
Last round · Forge
Series F (09/30/2025): $200.85 per share, $9.3B post-money valuation, $300M raised
Clarity Price
$239.64 per share
6M return +54.17%7Clarity (formerly Hiive)
Last round · Clarity
Series F (September 2025): $9.3B post-money, $200.85 per share, $300M raised

Secondary-market indications are published by Forge Global and Clarity (formerly Hiive) on the dates shown; ratings and margins marked “estimate” are a third party's estimates as reported by the named outlet. None is an offer, and none is part of the ranking.

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References

Every figure on this page, by source.

  1. 1Business Wire · 6 Aug 2026finance.yahoo.com/technology/ai/articles/vercel-appoints-amit-agarwal-standard-150000230.h…
  2. 2TechCrunch · 13 Apr 2026techcrunch.com/2026/04/13/vercel-ceo-guillermo-rauch-signals-ipo-readiness-as-ai-agents-fu…
  3. 3vercel.comwww.morningstar.com/news/business-wire/20260806738617/vercel-appoints-amit-agarwal-standar…
  4. 4IA40 · 19 Oct 2026www.ia40.com/the-list/
  5. 5Vercelvercel.com/blog/series-f
  6. 6Forge Global · 17 Oct 2026forgeglobal.com/vercel_stock/
  7. 7Clarity (formerly Hiive)www.clarity.com/browse-companies/vercel-stock

Every link was opened on 17 October 2026 and the figure read on the page. Secondary-market indications, where shown, are provided by Forge Global and Clarity (formerly Hiive), are not offers, and play no part in the ranking.