Data Marketplaces & Intermediaries

Turing raises $111M Series E at $2.2B valuation as ARR triples to ~$300M

Source: TechCrunch · Mar 6, 2025

Turing, the Palo Alto company that commissions custom training datasets and post-training programs for frontier AI labs, raised a $111 million Series E at a $2.2 billion valuation, with annualized revenue reportedly tripling to roughly $300 million. Its customer list includes OpenAI, Anthropic, and Google — putting it squarely among the vendors that the largest labs already trust with post-training work, which is a higher bar than general-purpose data labeling.

Turing frames itself less as a data vendor and more as a research accelerator for AGI and multimodal model development, which is a positioning choice worth noting: it's selling into the same budget line as Mercor, Surge, and Scale, but pitching itself on research partnership rather than throughput. The company is also reportedly profitable, which stands out in a segment where a lot of competitors are still burning capital to scale expert supply.

Key Points

• $111M Series E, valuing the company at $2.2B
• ARR reportedly tripled to roughly $300M
• Commissions custom training datasets and post-training programs for frontier labs including OpenAI, Anthropic, and Google
• Profitable, positioning itself as an AGI/multimodal-model research accelerator