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Sierra completes $950 million Series E funding at a $15.8 billion valuation, with GV leading the investment
Golden Finance reports that on May 5th, according to CNBC, the AI startup Sierra, co-founded by Bret Taylor, Chairman of the OpenAI Board, and former Google executive Clay Bavor, completed a $950 million Series E funding round, with a post-money valuation of $15.8 billion.
This round was led by Tiger Global and GV, the venture capital arm of Alphabet, with existing investors Benchmark, Sequoia, Greenoaks, and others participating.
Sierra mainly provides AI customer service agent products for enterprises, automatically handling customer service and support scenarios for business clients. It is reported that Sierra’s annual recurring revenue has exceeded $150 million within 8 quarters.
Bret Taylor stated that Sierra operates using a “model swarm” approach, combined with its own fine-tuning layer, to provide AI agent services for enterprise clients. Previously, Sierra completed a $175 million funding round in October 2024, with a valuation of $4.5 billion at that time.