Sierra secures $950m funding round led by Tiger Global and GV
Founded by Bret Taylor, the firm reports over 40 per cent of the Fortune 50 as customers and recently achieved $150 million in annual recurring revenue.
Sierra, the enterprise artificial intelligence startup founded by Bret Taylor, has announced a $950 million funding round led by Tiger Global and GV. The investment, confirmed on Monday, pushes the company's post-money valuation above $15 billion. Sierra intends to deploy the capital to establish itself as the global standard for AI-powered customer experiences, capitalising on a period of rapid growth and increased enterprise adoption of agentic AI tools.
The firm reports that it now has more than 40 per cent of the Fortune 50 as customers. According to company data, its autonomous agents are currently handling billions of interactions across various sectors. These include complex tasks such as refinancing mortgages, processing insurance claims, managing returns, and powering nonprofit fundraising campaigns.
Sierra recently achieved $150 million in annual recurring revenue, following a previous milestone of $100 million reported in late November. This trajectory reflects the urgency enterprises feel regarding deploying AI, despite the associated costs during the ramp-up phase. Taylor, who also serves as chairman of OpenAI and was formerly co-CEO of Salesforce, argues that while the initial investment is high, the best-case outcome for clients involves lower costs and higher revenue.
The broader industry context is illustrated by the experience of Uber, where CTO Praveen Neppalli Naga noted that approximately 10 per cent of code produced at the company is now generated autonomously by agentic AI tools. Neppalli Naga highlighted that a hotel-booking integration, completed using only agentic workflows in six months, would typically take a year to develop. This demonstrates the tangible efficiency gains driving the market demand.
Sierra is also expanding its platform capabilities beyond customer-facing agents. In April, the company launched Ghostwriter, an agent-as-a-service tool that allows users to describe needs in natural language for the autonomous creation and deployment of specialised agents. This move supports Taylor's thesis that the future lies in systems where people never need to navigate complex software interfaces manually.
The funding announcement underscores the intense competition to own the enterprise AI landscape. With significant backing from major venture capital firms, Sierra is positioning itself to scale its operations as businesses seek to modernise their workflows and reduce reliance on underutilised legacy software.
