AI gateway startup OpenRouter has raised $113 million in a Series B round led by CapitalG, Alphabet’s growth venture fund, lifting its valuation to approximately $1.3 billion — more than double the $547 million it commanded just a year ago following a Series A backed by Andreessen Horowitz and Sequoia.
Founded in 2023, OpenRouter gives enterprises AI-powered access to over 400 models — including those from Anthropic, OpenAI, Google, and DeepSeek — automatically routing tasks to the most cost-effective or accurate option. The platform now serves 8 million users and processes roughly 100 trillion tokens monthly, a fivefold increase in six months.
The fundraise signals that the multi-model era has arrived, with enterprises actively resisting vendor lock-in as AI agents become central to their operations.
