Sierra raises $950 million funding round led by Tiger Global and GV, pushing valuation above $15 billion

Sierra announced the $950 million funding round on Monday. The company says it will use the capital to become the 'global standard' for AI-powered customer experiences.

Sierra's agents are handling billions of interactions across customer-service tasks — from refinancing mortgages to processing insurance claims and managing returns. The company claims more than 40% of the Fortune 50 as customers.

Sierra's annual recurring revenue grew from $100 million in late November to $150 million in early February. CEO Bret Taylor, also chairman of OpenAI and formerly co-CEO of Salesforce, has said the best-case outcome for agentic AI is lower costs and higher revenue for clients, though the ramp-up phase can be costly.

In April, Sierra launched Ghostwriter, an 'agent as a service' tool where users describe what they need in natural language and Ghostwriter autonomously creates and deploys a specialized agent (self-directed software) to handle it.