Exclusive-vercel Completes $250 Million Series E Round At $3.25 Billion Valuation

Vercel, a software startup that provides a platform for building cloud-based web applications, has raised $250 million in a Series E funding round. The company’s Next.js technology, an open-source framework for building web applications, is used by over 1 million developers every month. Vercel plans to use the funds to further develop its v0 product, which uses generative artificial intelligence to build user interfaces from text descriptions, and to enhance its security products.