Sierra raises $950M as the race to own enterprise AI gets serious
40% of Fortune 50 now use Sierra's AI agents handling billions of interactions.
Sierra, the AI startup founded by former Salesforce co-CEO and OpenAI chairman Bret Taylor, has raised a massive $950 million funding round led by Tiger Global and GV. The round pushes Sierra's post-money valuation above $15 billion and gives the company more than $1 billion in total capital to deploy. Sierra plans to use the funds to become the 'global standard' for AI-powered customer experiences, and it's already seeing remarkable traction: the company says it counts more than 40% of the Fortune 50 as customers, and its AI agents are now handling billions of interactions ranging from mortgage refinancing to insurance claims processing.
Sierra's revenue growth has been breakneck. The company hit $100 million in annual recurring revenue in late November, then announced $150 million in ARR by early February. That pace reflects both the urgency enterprises feel about deploying agentic AI and the high upfront costs involved — a dynamic Uber CTO Praveen Neppalli Naga confirmed at a TechCrunch event, noting Uber 'blew through our AI budget' but is now seeing meaningful results, with 10% of all code at the company generated autonomously. Sierra is also expanding its platform: in April, it launched Ghostwriter, a tool that lets users describe agents in natural language and then autonomously builds and deploys them.
- Sierra raised $950M led by Tiger Global and GV, valuing it over $15B with $1B+ in capital.
- Revenue surged from $100M to $150M ARR between late November and early February.
- New tool Ghostwriter lets users build specialized agents via natural language commands.
Why It Matters
Sierra's massive raise signals enterprises urgently adopt agentic AI, and the costs and ROI are becoming real at scale.