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Vercel, formerly ZEIT, makes the open-source Next.js framework. It sells a frontend cloud platform with a global CDN, serverless compute, security features and AI products such as v0 and the AI SDK. It uses a freemium SaaS model, with free access for individual developers and paid plans for enterprises. In September 2025 it raised a $300M Series F led by Accel and GIC at a $9.3B valuation, bringing total funding to about $863M. It reportedly reached a $340M revenue run rate in February 2026, up 86% year over year.