According to CNBC, Sierra, an AI startup founded by Bret Taylor, chairman of OpenAI’s board, and former Google executive Clay Bavor, has completed a $950 million Series E funding round, valuing the company at $15.8 billion post-money. The round was led by Tiger Global and GV, the venture capital arm of Alphabet, with participation from Benchmark, Sequoia, Greenoaks, and others. Sierra focuses on providing AI-powered customer service agents for enterprises, enabling automated customer support scenarios. It is reported that its annualized recurring revenue has surpassed $150 million over eight quarters.
Sierra Completes $950M Funding, Valuation Reaches $15.8B
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Summary
Sierra, an AI startup co-founded by Bret Taylor and Clay Bavor, has closed a $950 million Series E round, valuing the company at $15.8 billion. This funding milestone represents a significant development for the AI and crypto news sector. Tiger Global and GV led the round, with participation from Benchmark, Sequoia, and Greenoaks. The company, which develops AI-powered customer service tools, reported over $150 million in annual recurring revenue across eight quarters.
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