Particle.news

AfterQuery Hits $3.2 Billion Valuation and Becomes Y Combinator’s Fastest-Ever Unicorn

Investors say the jump reflects rising demand from major AI labs for expert-curated training data as models exhaust public web text.

Overview

  • Reports on Tuesday say AfterQuery closed a financing that values the startup at $3.2 billion, more than ten times its April valuation of $300 million.
  • Founders Spencer Mateega and Carlos Georgescu launched the company in 2025, joined Y Combinator’s Winter 2025 cohort, and reached unicorn status in record time for the accelerator.
  • AfterQuery charges AI labs for human-curated datasets and reinforcement-learning environments built from work by roughly 100,000 verified professionals in fields like medicine, law, finance, and engineering.
  • The company reported an annualized revenue run rate of about $100 million in April, said that figure rose to “hundreds of millions” by July, and is reported to be profitable with a lead investor lined up.
  • Major model developers including OpenAI, Google DeepMind, Microsoft AI, Nvidia and several international labs are named as users of its data, a trend that could push more labs to buy proprietary expert datasets rather than rely on publicly scraped text.