According to ChainCatcher, Sierra, an 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 funding round, bringing its post-money valuation to $15.8 billion. The 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 agents designed to automate customer support scenarios for enterprise clients. It is reported that Sierra’s annualized recurring revenue has surpassed $150 million over eight quarters. Bret Taylor stated that Sierra operates using a “model swarm” approach combined with its own fine-tuning layer to deliver AI agent services to enterprise customers. Previously, Sierra raised $175 million in October 2024 at a $4.5 billion valuation.
Sierra, an AI startup founded by the OpenAI board chair, raises $950 million in Series E at a $15.8 billion valuation.
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Summary
Sierra, an enterprise AI startup co-founded by OpenAI board chair Bret Taylor and former Google executive Clay Bavor, has raised $950 million in Series E funding. The round, led by Tiger Global and Alphabet’s GV, values the company at $15.8 billion. Existing investors Benchmark, Sequoia, and Greenoaks also participated. Sierra’s AI-powered crypto news applications include enterprise customer service agents, with annualized recurring revenue exceeding $150 million for eight consecutive quarters. The company employs a “model ensemble” approach with a proprietary fine-tuning layer. Sierra previously raised $175 million in October 2024 at a $4.5 billion valuation. Global shifts in crypto policy continue to influence enterprise AI and blockchain adoption trends.
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