Sierra Completes $950 Million Series E Financing at $15.8 Billion Valuation, Led by GV

On May 5, CNBC reported that Sierra, an enterprise AI startup co-founded by Bret Taylor, chairman of the OpenAI board, and former Google executive Clay Bavor, has completed a $950 million Series E financing round, achieving a post-money valuation of $15.8 billion. This round was led by Tiger Global and GV, the venture capital arm of Alphabet, with participation from existing investors including Benchmark, Sequoia, and Greenoaks. Sierra primarily provides AI customer service agent products, automating customer service and support scenarios for enterprise clients. It is reported that Sierra’s annual recurring revenue has surpassed $150 million over the past eight quarters. Bret Taylor stated that Sierra operates using a ‘model cluster’ approach and combines its proprietary fine-tuning layer to provide AI agent services for enterprise clients. Previously, Sierra completed a $175 million financing round in October 2024, at which time its valuation was $4.5 billion.

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