OpenRouter valuation hits $1.3B after $113M Series B

OpenRouter, the AI gateway startup founded in 2023, has raised $113 million in Series B funding led by CapitalG, Alphabet's growth venture fund. The round values the company at approximately $1.3 billion post-money, more than doubling its $547 million valuation from a year ago. The previous $40 million Series A in June 2025 was led by Andreessen Horowitz and Menlo Ventures, with Sequoia participating. OpenRouter's platform provides access to over 400 AI models from providers including Anthropic, Google, OpenAI, xAI, and DeepSeek. It claims 8 million global users and processes 100 trillion tokens per month, a 5x increase from 5 trillion tokens per week six months ago. The startup's growth reflects a shift in AI work from training to inference to agents, and indicates that enterprises prefer multi-model flexibility over vendor lock-in.