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- AfterQuery
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
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
Website
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| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2026 | Series B | $3.2B | 32.0x |
| Apr 2026 | Series 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
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2026 | $100M | $3.2B | 32.0x | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Series B | Andreessen Horowitz; Sequoia Capital | - | $3.2B | AfterQuery 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 2026 | Series A | Altos Ventures (lead); Y Combinator; BoxGroup; The Raine Group; Latitude Capital | $30M | $300M | - |
| Mar 2025 | Pre-seed | BoxGroup (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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Mar 2025 | ||
| 2 | Lead | Mar 2025 | ||
| 1 | Participant | Apr 2026 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAfterQuery Competitors
AfterQuery competitors include listed companies like Affle 3i and Ncino, and private ones like Black Forest Labs, Komodo Health, Motive and Certus Core.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $96M | - | $3.3B | 33.9x | ||
| Private | $150M | - | $3.3B | 22.0x | ||
| Private | $501M | - | $3.1B | 6.1x | ||
| Private | - | - | $3.4B | - | ||
| Publicly listed | $282M | $67M | $2.3B | 6.7x | ||
| Publicly listed | $595M | $65M | $2.3B | 4.0x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $282M | $67M | 7.4x | 6.7x | 31.3x | 29.5x | |||
| $595M | $65M | 4.3x | 4.0x | 39.0x | 15.8x | |||
| $93M | ($30M) | 21.5x | 16.3x | (67.1x) | (440.4x) | |||
| $250M | ($484M) | 4.3x | 4.5x | (2.2x) | (6.2x) | |||
| $60M | ($20M) | 27.6x | - | (82.7x) | - | |||
| $76M | ($20M) | 19.3x | 19.7x | (73.5x) | 478.8x | |||
| $1.5B | $53M | 0.8x | 0.9x | 24.1x | - | |||
| $344M | $50M | 3.7x | 3.4x | 25.8x | 21.0x | |||
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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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