Nous Research Raises $90M Series B at $1.5B Valuation, Targets Enterprise with Hermes for Businesses

Nous Research has raised a $90 million Series B at a $1.5 billion valuation, confirming earlier reporting by TechCrunch. The round brings the three-year-old startup’s total funding to $158 million.

The financing was led by Robot Ventures, with participation from Nvidia, Union Square Ventures, Menlo Ventures, Samsung, and 1789 Capital — a firm where Donald Trump Jr. is a partner.

Nous Research is the developer behind the open-source Hermes agent, which has been cloned more than 24 million times and accounts for roughly 2.5% of global AI token usage, according to the company’s own estimates.

The new capital will fund an expansion into the enterprise market. The company announced “Hermes for Businesses” in October 2026, a product that allows companies to deploy customized AI agents capable of handling multi-step workflows while keeping data private and secure.

On the revenue side, Nous Research was tracking at approximately $36 million in annualized revenue as of mid-September 2026, according to The Wall Street Journal. The company expects to surpass $100 million in annualized revenue before the end of 2026.

The move into enterprise marks a shift for a startup that built its reputation primarily among developers and individual users. Whether the commercial “Hermes for Businesses” offering can replicate that traction at the corporate level may determine how quickly the company reaches its revenue targets.