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- Sierra
Sierra Revenue, Valuation, Funding & Investors
Sierra is valued at $16B as of May 2026. Sierra revenue was $100M, as disclosed with its September 2025 round.
Last Sierra valuation
$16B
Series E · May 2026
Last Sierra funding round
$950M
Series E · May 2026
Sierra revenue
$100M
Undisclosed stage · Sep 2025
Key investors in Sierra
Greenoaks
Sequoia Capital
Benchmark
Tiger Global
GV
Thrive Capital
About Sierra
Sierra is a San Francisco company that builds conversational AI agents for customer service and sales, founded in 2023 by Bret Taylor, the former co-chief executive of Salesforce and chairman of OpenAI, and Clay Bavor, a longtime Google executive. Its platform lets large companies build branded agents that handle customer conversations over chat, voice and other channels, take actions in company systems and improve over time. Customers include SiriusXM, Sonos, ADT, WeightWatchers, SoFi, Nordstrom, Cigna and Singtel, and the company says it serves more than 40 percent of the Fortune 50. It launched in February 2024 and passed 100 million dollars of annual recurring revenue in 2025 and 150 million in 2026. Investors include Sequoia Capital, Benchmark, Greenoaks, Thrive Capital, ICONIQ, GV and Tiger Global. It raised 950 million dollars in a Series E in May 2026 at a valuation of more than 15 billion dollars. It acquired the voice-agent company Receptive AI in 2025 and the long-horizon agent company Takeoff in 2026.
Founded
2023
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$100M (Sep 2025)
Valuation
$16B (May 2026)
Sierra Valuation
Sierra is currently valued at $16B, based on its Series E in May 2026. Read the announcement ↗
The $950M round was led by GV and Tiger Global, with participation from Greenoaks, Benchmark and Sequoia Capital.
Sierra's valuation has grown 16x from $1B at its Series A in February 2024 to $16B in May 2026, across 4 priced rounds.
Sierra valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| May 2026 | Series E | $16B | - |
| Sep 2025 | Undisclosed stage | $10B | 100.0x |
| Oct 2024 | Series B | $4.5B | - |
| Feb 2024 | Series A | $1B | - |
Sierra Revenue
Sierra's latest recorded revenue is $100M, as of its undisclosed-stage round in September 2025. At a $10B valuation, that implies a 100.0x revenue multiple.
Sierra revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2025 | $100M | $10B | 100.0x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Sierra Funding History
Sierra has raised a total of $1.6B across 4 funding rounds.
Sierra's first fundraising round was a $110M Series A in February 2024. The most recent completed round was a $950M Series E in May 2026.
Sierra funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2026 | Series E | GV (lead); Tiger Global (lead); Greenoaks; Benchmark; Sequoia Capital | $950M | $16B | Sierra raised $950 million in its Series E funding round on May 4, 2026, at a post-money valuation of $15.8 billion. The round was led by Tiger Global and Google Ventures (GV), with participation from Benchmark Capital, Sequoia Capital, and Greenoaks, bringing total capital raised to over $1 billion. This follows a $350 million raise in September 2025 at $10 billion valuation and a $175 million round in late 2024 at $4.5 billion. The funding supports expansion of Sierra's enterprise AI agent platform for customer experience transformation, positioning it as a global standard in AI-driven customer service. Sierra serves over 40% of the Fortune 50, including Prudential, Cigna, Blue Cross Blue Shield, Rocket Mortgage, and one in three of the world's largest banks, reflecting strong enterprise adoption and investor confidence in AI agents scaling customer service operations. Sierra, co-founded by former Salesforce co-CEO Bret Taylor and ex-Google Labs lead Clay Bavor, reported more than $150 million in ARR as of February 2026. The platform enables AI agents to handle customer interactions at scale, marking a shift from experimental to essential enterprise technology. |
| Sep 2025 | Undisclosed stage | Greenoaks (lead) | $350M | $10B | Sierra is a San Francisco company that builds conversational AI agents for customer service and sales, co-founded in 2023 by Bret Taylor, the former co-chief executive of Salesforce and chairman of OpenAI, and Clay Bavor, a longtime Google executive. On 4 September 2025 the company announced a 350 million dollar funding round led by its earlier investor Greenoaks Capital, at a valuation of 10 billion dollars, confirming a report by Axios the day before. TechCrunch noted that Sierra had by then raised 635 million dollars in total, including the 110 million dollars closed in February 2024 and the 175 million dollars raised in October 2024. The company said it had landed hundreds of customers in its first 18 months of operation, including SoFi, Ramp and Brex. The valuation was more than double the 4.5 billion dollars set in October 2024. Sierra sells AI agents that handle customer service conversations for large enterprises across chat and voice channels. |
| Oct 2024 | Series B | Greenoaks (lead); ICONIQ Capital; Thrive Capital | $175M | $4.5B | Sierra is a San Francisco company that builds conversational AI agents for customer service and sales, co-founded in 2023 by Bret Taylor, the former co-chief executive of Salesforce and chairman of OpenAI, and Clay Bavor, a longtime Google executive. In late October 2024 it raised 175 million dollars in a round led by Greenoaks Capital, with participation from ICONIQ and Thrive Capital, at a valuation of 4.5 billion dollars. The valuation more than quadrupled the roughly 1 billion dollar level set by the February 2024 round led by Sequoia Capital and Benchmark. The raise had been reported by The Information earlier in the month while the company was still in the process of raising. Sierra had passed 20 million dollars of annualized revenue by then, according to reports, and counted companies such as ADT, Casper, WeightWatchers and SiriusXM among its customers. Taylor remained chairman of the OpenAI board while running Sierra. |
| Feb 2024 | Series A | Sequoia Capital (lead); Benchmark (lead) | $110M | $1B | Sierra is a San Francisco company that builds conversational AI agents for customer service and sales, co-founded in 2023 by Bret Taylor, the former co-chief executive of Salesforce and chairman of OpenAI, and Clay Bavor, a longtime Google executive. The company came out of stealth on 13 February 2024 with its first product, announcing that investors led by Sequoia Capital and Benchmark had put in a total of 110 million dollars. Later reporting put its valuation at about 1 billion dollars after the round, in January 2024. Sierra said its platform let companies build branded AI agents that handle customer conversations and take actions in company systems, and it named WeightWatchers, SiriusXM, Sonos and OluKai as its first customers. The team numbered about 30 at launch, working from an office in San Francisco. Taylor and Bavor had left their previous roles to start the business about a year earlier, and the funding was to pay for hiring and for building out the agent platform for large enterprises. |
Who has invested in Sierra?
7 investors have backed Sierra across its funding rounds, including Greenoaks, Sequoia Capital, Benchmark, Tiger Global, GV and Thrive Capital.
Lead investors include GV, Tiger Global, Greenoaks, Sequoia Capital and Benchmark.
Sierra Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Oct 2024 | ||
| 2 | Lead | Feb 2024 | ||
| 2 | Lead | Feb 2024 | ||
| 1 | Participant | Oct 2024 | ||
| 1 | Lead | May 2026 | ||
This data is available for Pro users. Sign up to see all 7 Sierra investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Sierra
Sierra has acquired 2 companies to date.
Last acquisition by Sierra was on July 22nd 2026. Sierra acquired Takeoff for undisclosed valuation.
Latest Acquisitions by Sierra
| Description | Takeoff is a company building artificial intelligence agents intended for extended operational tasks. | Receptive AI is a United States start-up that built voice agent technology, founded by the engineers Ajeet Grewal and Venu Satuluri. The founders were described by Sierra as exceptional technologists doing pioneering work in voice agents, software that holds spoken conversations with customers over the phone. Its voice technology was integrated into Sierra's platform before the acquisition, allowing companies to build an AI agent once and deploy it across chat and voice channels with a consistent brand tone. Sierra said voice had become its biggest channel within months of launch, which made the voice capability strategic to its product. The business was acquired in March 2025 and its founders joined Sierra to work on voice agents inside Sierra. |
| HQ Country | ||
| HQ City | San Francisco, CA | - |
| Deal Date | 22 Jul 2026 | 26 Mar 2025 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Sierra acquisitions and their M&A valuation multiples. Start Free Trial | ||
Sierra Competitors
Sierra competitors include listed companies like Presight AI and Snowflake, and private ones like Kling AI, Lovable, ElevenLabs and SambaNova.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $500M | - | $18B | 36.0x | ||
| Private | $500M | - | $13B | 26.6x | ||
| Private | $600M | - | $22B | 36.7x | ||
| Private | $100M | - | $11B | - | ||
| Publicly listed | $825M | $214M | $5.3B | 4.9x | ||
| Publicly listed | $4.7B | ($1.3B) | $108B | 18.3x |
Sierra Public Comps
Sierra is still privately-owned, but its public comps include Tempus AI, iFlytek, IonQ, Range Intelligent, MiniMax Group, UiPath, SenseTime Group, Presight AI, Z.ai and Nebius Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.3B | ($131M) | 10.8x | 8.9x | (105.2x) | 261.7x | |||
| $4.1B | $469M | 3.5x | 3.2x | 30.2x | 31.0x | |||
| $130M | ($531M) | 83.4x | 27.5x | (20.4x) | (26.4x) | |||
| $852M | $803M | 18.7x | 13.3x | 19.9x | 17.3x | |||
| $79M | ($1.9B) | 77.1x | - | (3.2x) | - | |||
| $1.6B | $70M | 3.7x | 3.4x | 85.5x | 13.3x | |||
| $753M | ($71M) | 6.5x | 5.2x | (68.8x) | 51.2x | |||
| $825M | $214M | 6.0x | 4.9x | 23.0x | 19.1x | |||
This data is available for Pro users. Sign up to see all Sierra competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Sierra
| When was Sierra founded? | Sierra was founded in 2023. |
| Where is Sierra headquartered? | Sierra is headquartered in San Francisco, CA, United States. |
| Is Sierra publicly listed? | No, Sierra is a private, VC-backed company. |
| What is Sierra's valuation? | Sierra was last valued at $16B in its Series E in May 2026. |
| How much funding has Sierra raised? | Sierra has raised $1.6B across 4 funding rounds. |
| What was Sierra's last funding round? | Sierra's last funding round was a $950M Series E in May 2026, led by GV and Tiger Global. |
| Who are Sierra's investors? | Sierra's investors include Greenoaks, Benchmark, Sequoia Capital, ICONIQ Capital, GV, Tiger Global and Thrive Capital. |
| What is Sierra's revenue? | Sierra's latest recorded revenue is $100M (September 2025). |
| What is Sierra's revenue multiple? | Sierra's latest valuation implies a 100.0x revenue multiple ($10B valuation on $100M of revenue). |
| Which companies are comparable to Sierra? | Companies comparable to Sierra include Kling AI, Lovable, ElevenLabs, SambaNova, Presight AI and Snowflake. |
| How many companies has Sierra acquired? | Sierra has acquired 2 companies, including Takeoff and Receptive AI. |
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