Bret Taylor’s AI Startup Sierra Raises $175M, Hits $4.5 Billion Valuation

Oct 28, 2024, 07:26 PM

Sierra, an AI startup co-founded by OpenAI board chairman and former Salesforce co-CEO Bret Taylor, has raised $175 million in a fresh funding round. This latest investment values the company at $4.5 billion, a significant increase from its previous valuation of approximately $1 billion. Sierra specializes in providing customizable AI customer service agents and has notable clients such as WeightWatchers and Sirius XM. The startup, which also involves former Google executive Clay Bavor, is part of the rapidly growing enterprise AI sector. Sierra's annual recurring revenue (ARR) stands at $20 million, reflecting a revenue multiple of 225x.