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AI market platform OpenRouter raises $40 million with a valuation of $500 million.
OpenRouter, an AI model market platform, announced the completion of a $40 million seed and Series A funding round, with a company valuation of approximately $500 million.
This round of financing was led by Andreessen Horowitz and Menlo Ventures, with participation from Sequoia and several well-known investors in the industry. The funds will be used for product development, introducing new model types, and expanding enterprise support.
OpenRouter was founded in 2023 by Alex Atallah, co-founder and CTO of OpenSea, and Louis Vichy, providing a unified interface to connect over 400 large language models (LLMs), helping developers and enterprises simplify multi-model integration. Since its launch, the company has attracted over 1 million developers to use its API, with annual inference spending growing from $10 million in October 2024 to over $100 million in May 2025. Its customers range from startups to multinational corporations, supporting routing for mission-critical traffic.