All Access

Enterprise Software Deals

Enterprise Software Deals Alerts

Alert

Agentic AI firm Sierra raised $950 million in new capital led by Tiger Global and GV, lifting its valuation nearly 60% to $15.8 billion post-money.

The big picture: Funding to agentic AI startups has exploded, with more than $24 billion invested last year.

How it works: Sierra builds conversational AI agents to handle customer service.

Zoom in: Benchmark, Sequoia, and Greenoaks also participated.

The company was co-founded three years ago by OpenAI chairman and former Salesforce co-CEO Bret Taylor. 

State of play: Decagon, a competitor, raised $250 million led by new investors Coatue Management and Index Ventures in January, tripling its valuation to $4.5 billion.

Sierra had raised $350 million at a $10 billion valuation last September.

The bottom line: The battle to build the best AI agents is just getting started.

Sierra locks up $950M at a $15.8B valuation

Funding to agentic AI startups has exploded, with more than $24 billion invested last year.

Illustration of a hundred dollar bill with Benjamin Franklin replaced by a robot.

Agentic AI firm Sierra <a class="gtmContentClick" data-vars-link-text="raised" data-vars-click-url="https://www.cnbc.com/2026/05/04/bret-taylor-sierra-fundraise-openai.html" data-vars-content-id="1d45807a-2f2a-4db2-949e-03da84c818b6" data-vars-headline="Sierra locks up $950M at a $15.8B valuation" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.cnbc.com/2026/05/04/bret-taylor-sierra-fundraise-openai.html" target="_blank">raised</a> $950 million in new capital led by Tiger Global and GV, lifting its valuation nearly 60% to $15.8 billion post-money.The big picture: Funding to agentic AI startups has exploded, <a class="gtmContentClick" data-vars-link-text="with more than $24 billion invested" data-vars-click-url="https://www.axios.com/pro/enterprise-software-deals/2026/04/24/agentic-ai-investment-2025-software" data-vars-content-id="1d45807a-2f2a-4db2-949e-03da84c818b6" data-vars-headline="Sierra locks up $950M at a $15.8B valuation" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/enterprise-software-deals/2026/04/24/agentic-ai-investment-2025-software" target="_self">with more than $24 billion invested</a> last year.

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

c-suite

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

charlotte

salt-lake-city

denver

boulder

kansas-city

austin

chicago

dallas

detroit

washington-dc

atlanta

indianapolis

nashville

nw-arkansas

columbus

richmond

san-francisco

boston

des-moines

houston

phoenix

miami

philadelphia

seattle

new-orleans

colorado-springs

huntsville

raleigh

san-antonio

twin-cities

pittsburgh

arapahoe

douglas

san-diego

tampa-bay

portland

cleveland

axios-local

axios-pro

axios-live

the-axios-show

Sierra locks up $950M at a $15.8B valuation

What to read next