Nous Research, the startup behind the open-source AI agent platform known as Hermes, is in the final stages of closing a new funding round that would value the company at $1.5 billion. The round is being led by Robot Ventures, with notable participation from Union Square Ventures and several other prominent investors. Three sources familiar with the matter confirmed the details of the deal, noting that the company is targeting a raise of at least $75 million and that investor interest has been particularly strong.
Nous Research did not respond to requests for comment on the funding. Robot Ventures and USV also did not reply when approached for a statement.
The company was established in 2023 by four co-founders: Jeffrey Quesnelle, Karan Malhotra, Ryan Teknium, and Shivani Mitra. Prior to this latest round, Nous Research had accumulated approximately $70 million in total funding. Its previous backers include Paradigm, Robot Ventures, North Island Ventures, OSS Capital, and entrepreneur and investor Balaji Srinivasan, according to data from Crunchbase.
Hermes Enters a Competitive AI Agent Market
Nous Research launched Hermes shortly after a competing AI agent tool went viral online, positioning it as a direct alternative in the fast-growing space of locally run AI agents. Like its competitor, Hermes is designed to carry out tasks on behalf of users directly from their devices. However, Hermes distinguished itself at launch by shipping with a set of built-in capabilities out of the box - including web search, programming assistance, and image comprehension.
Another notable feature of Hermes is its ability to learn from user behavior over time and autonomously develop new skills without requiring manual updates or intervention from developers. This self-improving design sets it apart from many other agents in the space. In addition to Hermes, Nous Research has also released a series of language models specifically optimized for coding and mathematical reasoning tasks.
As with similar tools in this category, users can automate repetitive or complex tasks using Hermes and interact with the agent through popular messaging platforms such as Telegram and Discord. The ability to run AI agents continuously and remotely through familiar communication apps has contributed to a surge in adoption among both developers and general users.
Strong Open-Source Adoption and Growing Community
Hermes has built a substantial presence within the open-source developer community. On GitHub, the project has accumulated approximately 214,000 stars and close to 40,000 forks - figures that reflect a high level of engagement and active use across the global developer ecosystem. The platform can be deployed on a standard desktop computer or hosted on a virtual private server, giving users considerable flexibility in how they run the software.
For those who prefer not to manage their own infrastructure, Nous Research also provides a cloud-hosted version of Hermes. This managed option is aimed at users who want a more straightforward setup experience without the need to configure the software on their own machines. The hosted service is offered through a tiered pricing structure, with plans ranging from $20 to $200 per month depending on usage requirements.
Plans for the New Capital
According to sources with knowledge of the situation, the proceeds from this new funding round are expected to go toward expanding Hermes as a product and scaling the company's broader business operations. With the AI agent market continuing to attract significant attention from both consumers and enterprise customers, the investment is seen as a move to strengthen Nous Research's position at a time when competition in the space is intensifying.
