AfterQuery Revenue, Valuation, Funding & Investors

AfterQuery is valued at $3.2B as of September 2026, a 32.0x multiple on its last reported $100M revenue.

Last AfterQuery valuation

$3.2B

Series B · Sep 2026

Last AfterQuery funding round

Series B

Amount undisclosed · Sep 2026

AfterQuery revenue

$100M

Series B · Sep 2026

Key investors in AfterQuery

  • Y Combinator
  • BoxGroup
  • Andreessen Horowitz
  • Sequoia Capital
  • Altos Ventures
  • The Raine Group

AfterQuery Overview

About AfterQuery

AfterQuery is a research lab exploring limits of artificial intelligence systems. It supports frontier AI developers by testing capabilities, identifying failure modes, and providing benchmarks for models from labs like OpenAI and Anthropic, focusing on reasoning, safety, and emergent behaviors through novel evaluation frameworks.


Founded

2024

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Services

Revenue

$100M (Sep 2026)

Valuation

$3.2B (Sep 2026)

AfterQuery Valuation

AfterQuery is currently valued at $3.2B, based on its Series B in September 2026.

The round included Andreessen Horowitz and Sequoia Capital.

AfterQuery's valuation has grown 11x from $300M at its Series A in April 2026 to $3.2B in September 2026, across 2 priced rounds.

AfterQuery valuation by funding round

Revenue multiple
AfterQuery valuation by funding round
DateStageValuationRevenue Multiple
Sep 2026Series B$3.2B32.0x
Apr 2026Series A$300M-

AfterQuery Revenue

AfterQuery's latest recorded revenue is $100M, as of its Series B in September 2026. At a $3.2B valuation, that implies a 32.0x revenue multiple.

AfterQuery revenue by funding round

AfterQuery revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Sep 2026$100M$3.2B32.0xSeries B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

AfterQuery Funding History

AfterQuery has raised a total of $31M across 3 funding rounds.

AfterQuery's first fundraising round was a $500K pre-seed round in March 2025. The most recent completed round was a Series B in September 2026.

AfterQuery funding rounds

AfterQuery funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2026Series BAndreessen Horowitz; Sequoia Capital-$3.2BAfterQuery closed a Series B in September 2026 at a $3.2 billion valuation, marking a rapid step up from its April 2026 Series A. The round was led by Andreessen Horowitz and Sequoia Capital, with participation from Y Combinator Continuity, Index Ventures, and corporate venture investors. The financing reflects strong investor demand for AI data infrastructure tied to model training, with AfterQuery positioned as a provider of AI-first data pipelines and expert network capacity for training large language models. The company had previously raised a $30 million Series A at a $300 million valuation. The new round raised roughly $200 million to $250 million in primary capital. AfterQuery had a $100 million annual revenue run rate. AfterQuery is a San Francisco-based startup founded by two former high school classmates who joined Y Combinator and built a business around paying domain experts such as doctors and lawyers to train AI models. The company’s growth narrative centered on fast product adoption, a large and expanding expert network, and a funding trajectory that made it Y Combinator’s fastest reported path from launch to unicorn status.
Apr 2026Series AAltos Ventures (lead); Y Combinator; BoxGroup; The Raine Group; Latitude Capital$30M$300M-
Mar 2025Pre-seedBoxGroup (lead); Y Combinator (lead)$500K--

Who has invested in AfterQuery?

7 investors have backed AfterQuery across its funding rounds, including Y Combinator, BoxGroup, Andreessen Horowitz, Sequoia Capital, Altos Ventures and The Raine Group.

Lead investors include Altos Ventures, BoxGroup and Y Combinator.


AfterQuery Investors

Investors in AfterQuery by funding rounds participated
InvestorHQRoundsRoleFirst check
Y CombinatorUnited StatesSan Francisco, CA2LeadMar 2025
BoxGroupUnited StatesNew York City, NY2LeadMar 2025
The Raine GroupUnited StatesNew York City, NY1ParticipantApr 2026
Andreessen HorowitzUnited StatesSan Francisco, CA1ParticipantSep 2026
Sequoia CapitalUnited StatesSan Francisco, CA1ParticipantSep 2026

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AfterQuery Competitors

AfterQuery competitors include listed companies like Affle 3i and Ncino, and private ones like Black Forest Labs, Komodo Health, Motive and Certus Core.

Public and private companies comparable to AfterQuery
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Black Forest LabsGermanyFreiburg im BreisgauPrivate$96M-$3.3B33.9x
Komodo HealthUnited StatesSan Francisco, CAPrivate$150M-$3.3B22.0x
MotiveUnited StatesOklahoma City, OKPrivate$501M-$3.1B6.1x
Certus CoreUnited StatesTampa, FLPrivate--$3.4B-
Affle 3iIndiaIndiaPublicly listed$282M$67M$2.3B6.7x
NcinoUnited StatesUnited StatesPublicly listed$595M$65M$2.3B4.0x

AfterQuery Public Comps

AfterQuery is still privately-owned, but its public comps include Affle 3i, Ncino, Haizhi, C3.ai, Wenge AI, TRS Information Technology, PCITECH, Fractal Analytics, Presight AI and MiniMax Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Affle 3i$282M$67M7.4x6.7x31.3x29.5x
Ncino$595M$65M4.3x4.0x39.0x15.8x
Haizhi$93M($30M)21.5x16.3x(67.1x)(440.4x)
C3.ai$250M($484M)4.3x4.5x(2.2x)(6.2x)
Wenge AI$60M($20M)27.6x-(82.7x)-
TRS Information Technology$76M($20M)19.3x19.7x(73.5x)478.8x
PCITECH$1.5B$53M0.8x0.9x24.1x-
Fractal Analytics$344M$50M3.7x3.4x25.8x21.0x

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Common questions about AfterQuery

When was AfterQuery founded?AfterQuery was founded in 2024.
Where is AfterQuery headquartered?AfterQuery is headquartered in San Francisco, CA, United States.
Is AfterQuery publicly listed?No, AfterQuery is a private, VC-backed company.
What is AfterQuery's valuation?AfterQuery was last valued at $3.2B in its Series B in September 2026.
How much funding has AfterQuery raised?AfterQuery has raised $31M across 3 funding rounds.
What was AfterQuery's last funding round?AfterQuery's last funding round was a Series B in September 2026.
Who are AfterQuery's investors?AfterQuery's investors include Y Combinator, BoxGroup, The Raine Group, Andreessen Horowitz, Sequoia Capital, Altos Ventures and Latitude Capital.
What is AfterQuery's revenue?AfterQuery's latest recorded revenue is $100M (September 2026).
What is AfterQuery's revenue multiple?AfterQuery's latest valuation implies a 32.0x revenue multiple ($3.2B valuation on $100M of revenue).
Which companies are comparable to AfterQuery?Companies comparable to AfterQuery include Black Forest Labs, Komodo Health, Motive, Certus Core, Affle 3i and Ncino.

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