Nous Research, the AI startup behind the widely-used open-source Hermes agent, has secured $90 million in a Series B funding round, valuing the company at $1.5 billion. The financing round was led by Robot Ventures and drew participation from a notable group of investors including Nvidia, Union Square Ventures, Menlo Ventures, Samsung, and 1789 Capital - a firm where Donald Trump Jr. serves as a partner. With this latest infusion of capital, the three-year-old company has now raised a cumulative total of $158 million since its founding.

The Hermes agent, which Nous Research distributes as an open-source product, has gained significant traction among developers and individual users alike. According to figures provided by the company, the model has been cloned more than 24 million times and is responsible for approximately 2.5% of all AI token usage worldwide - a metric that underscores the project's outsized footprint in the broader AI ecosystem.

Expanding Into Enterprise With a Business-Focused Product

Nous Research plans to direct the newly raised funds toward breaking into the enterprise market. The company is launching a product called "Hermes for Businesses," which is designed to give organizations the ability to deploy tailored AI agents capable of managing complex, multi-step workflows. A key selling point of the offering is its emphasis on data privacy and security, allowing businesses to use the technology without routing sensitive information through external systems.

The move into enterprise territory represents a significant strategic shift for a startup that built its reputation primarily on serving the developer and open-source communities. By targeting corporate clients, Nous Research is following a path taken by several other AI companies that have sought to convert grassroots developer adoption into sustainable commercial revenue.

Revenue Growth and Financial Outlook

The company's financial trajectory appears to support its ambitious valuation. According to reporting by The Wall Street Journal, Nous Research had reached approximately $36 million in annualized revenue by mid-September 2026. The startup is projecting that figure to surpass $100 million before the close of 2026, suggesting a rapid acceleration in commercial activity as it moves further into the enterprise space.

The combination of strong developer adoption, a high-profile investor roster, and a clear commercial roadmap positions Nous Research as one of the more closely watched names in the current wave of AI infrastructure companies. Whether its enterprise push translates into the revenue growth it is projecting will be a key test of how effectively open-source AI platforms can be monetized at scale.