Company press releases or major financial news outlets

Vercel Raises $250M in Series E Led by Accel at $3.25B Valuation

May 16, 2024, 05:32 PM

Vercel, the company behind the Next.js framework, has raised $250 million in a Series E funding round led by Accel. This investment values the company at $3.25 billion, marking a 30% increase from its previous valuation in 2021. Vercel has also recently surpassed $100 million in annual revenue. The funds will be used to accelerate innovation in AI, security, and to deliver next-generation web experiences and applications. Existing investors such as CRV, GV, Notable Capital, Bedrock, Tiger Global, 8VC, and SV Angel also participated in the round. The announcement was made on May 16, 2024, and reported by Reuters.