Nous Research, the startup behind the open-source Hermes AI Agent, has raised $90 million in Series B funding at a $1.5 billion valuation. The company announced the funding in October 2026, with plans to introduce Hermes for Businesses, allowing organizations to deploy customized AI agents while maintaining control over their data and internal systems.
The funding round was led by Robot Ventures, with participation from Nvidia, Union Square Ventures, Menlo Ventures, Samsung, and 1789 Capital, where Donald Trump Jr. is a partner. The investment brings the three-year-old company’s total funding to $158 million.
Hermes AI Agent Records More Than 24 Million Clones
Founded in 2023, Nous Research develops open-source AI models and tools that users can modify, inspect, and run on their preferred infrastructure. The company released Hermes Agent under the MIT open-source license in February 2026, allowing developers and individuals to customize the software without relying on a single AI provider.
According to Nous Research, Hermes Agent has been cloned more than 24 million times and accounts for approximately 2.5% of global AI token consumption, based on the company’s internal estimates. Thousands of developers have also contributed to its development and built additional tools using the software.
Hermes Agent can perform tasks such as reading and editing files, browsing websites, running code, and automating workflows. The assistant can remember user preferences and project information across sessions, allowing it to reuse knowledge from previous interactions.
Nous Research Targets Enterprise Customers With Hermes for Businesses
The new funding will support the development of Hermes for Businesses, a commercial offering that allows companies to deploy AI agents for multi-step workflows. Organizations will be able to customize their agents, select AI models according to performance and cost requirements, and maintain control over company information.
The business offering also aims to let employees share agent configurations and accumulated knowledge across teams. Nous Research said the platform is being developed to support private AI deployment and give businesses greater control over their AI infrastructure.
The company offers paid services including Hermes Cloud, which allows users to deploy agents without managing their own infrastructure, alongside Hermes Business and Hermes Enterprise for organizations.
Annualized Revenue Reaches $36 Million
Nous Research had approximately $36 million in annualized revenue by mid-September 2026, according to The Wall Street Journal. The company expects that figure to exceed $100 million before the end of 2026.
The latest funding follows earlier investment rounds that had brought Nous Research approximately $68 million before its Series B. Its previous backers included Paradigm, North Island Ventures, Delphi Ventures, and other investors supporting open-source AI development.
Featured image credits: Wikimedia Commons
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