According to the Wall Street Journal, the AI model marketplace platform OpenRouter has completed $40 million in seed and Series A funding, with a valuation of about $500 million. This round of funding was led by Andreessen Horowitz and Menlo Ventures, with participation from Sequoia and several well-known industry investors. The funds will be used for product development, introducing new types of models, and expanding enterprise support.
OpenRouter was founded in 2023 by Alex Atallah, co-founder and CTO of OpenSea, and Louis Vichy. It provides a unified interface connecting over 400 large language models (LLMs), helping developers and businesses 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. Customers range from startups to multinational corporations, supporting routing for mission-critical traffic.