Nous Research, the startup behind the open-source Hermes agent, has closed a $90 million Series B round, confirming earlier reporting by TechCrunch. The round was led by Robot Ventures and included participation from Nvidia, Union Square Ventures, Menlo Ventures, Samsung, and 1789 Capital, where Donald Trump Jr. is a partner.
The new financing brings the three-year-old company’s total funding to $158 million. According to Nous Research, the open-source Hermes agent has been cloned more than 24 million times and accounts for roughly 2.5% of global AI token usage, by the startup’s estimates.
Enterprise push: "Hermes for Businesses"
Part of the new capital will be used to expand into the enterprise market with a product called “Hermes for Businesses.” The offering is intended to let companies deploy customized AI agents capable of handling multi-step workflows while keeping corporate data private and secure.
Financials
The Wall Street Journal reported that Nous Research was at about $36 million in annualized revenue by mid-September 2026, and the company expects to surpass $100 million in revenue before the end of 2026.
Why this matters
The sizable valuation and participation from prominent strategic investors underscore market interest in open-source agent platforms. Widespread adoption of Hermes among developers, together with a planned enterprise product, indicates Nous Research is moving from community-led usage toward revenue-driven growth and a focus on corporate customers.
