Bret Taylor's Sierra Raises $350M at $10B Valuation

Sierra, the AI customer service startup founded by former Salesforce co-CEO Bret Taylor, has raised $350 million in Series B funding at a $10 billion valuation, making it one of the fastest companies to reach decacorn status in Silicon Valley history. The round was led by Sequoia Capital with participation from Andreessen Horowitz, Kleiner Perkins, and several strategic investors.

The funding comes just 18 months after Sierra's founding and six months after its $110 million Series A, reflecting unprecedented investor confidence in Taylor's vision for AI-powered customer service. The company's rapid ascent mirrors the broader AI boom but stands out for its focus on practical enterprise applications rather than foundational models.

Sierra's platform enables businesses to deploy AI agents that can handle complex customer interactions across multiple channels, from chat and email to voice calls. Unlike traditional chatbots, Sierra's agents can access company databases, process transactions, and escalate issues to human representatives when necessary, creating a seamless customer experience.

The company has already secured major enterprise clients including American Express, Spotify, and WeightWatchers, with early customers reporting 40-60% reductions in customer service costs while improving satisfaction scores. Sierra's agents handle over 10 million customer interactions monthly, processing everything from billing inquiries to technical support requests.

Taylor, who previously served as co-CEO of Salesforce and chairman of Twitter, brings significant enterprise software experience to the AI customer service market. His track record includes leading Salesforce's acquisition strategy and overseeing the company's expansion into new product categories, experience that investors believe positions Sierra for rapid scaling.

The funding will accelerate Sierra's product development and international expansion, with plans to open offices in London and Singapore by early 2025. The company is also investing heavily in safety and compliance features, recognizing that enterprise customers require robust governance frameworks for AI deployments.