OpenRouter more than doubles valuation to $1.3B in a year

OpenRouter, founded in 2023, has raised $113 million in Series B funding led by CapitalG, Alphabet's growth venture fund. This round significantly boosts its valuation to an estimated $1.3 billion, more than double its $547 million valuation a year ago. The company previously secured $40 million in Series A funding in June 2025.

The company's AI gateway has seen a surge in popularity as the focus in AI work shifted from training to inference and, more recently, to agents. OpenRouter enables enterprises and AI users to select from various models for different tasks, optimizing costs and improving accuracy.

Currently, OpenRouter provides access to over 400 models, including those from Anthropic, Google, OpenAI, xAI, and DeepSeek. The platform serves 8 million global users and processes an impressive 100 trillion tokens per month, a fivefold increase from six months ago.

OpenRouter's success highlights a growing trend: the AI model is becoming an invisible and interchangeable component in AI tasks. This indicates that companies are keen to avoid vendor lock-in, preferring a multi-model future where flexibility and choice are paramount, rather than standardizing on a single model.