The excitement surrounding the AI startup founded by Bret Taylor, a former co-CEO of Salesforce, is palpable as investors show strong confidence in its potential. Sierra, a company dedicated to developing AI-driven customer service solutions for businesses, has successfully completed a significant funding round.
On Thursday, Sierra announced it had raised an impressive $350 million, with the investment led by Greenoaks Capital, a previous backer. This funding round elevates the company’s valuation to a remarkable $10 billion, as confirmed in a recent blog post from the company.
Founded in early 2024 by Taylor and Clay Bavor, a veteran from Google, Sierra has quickly made a name for itself in the industry. In just 18 months, the startup has attracted hundreds of clients, including notable names like SoFi, Ramp, and Brex, showcasing its rapid growth and market acceptance.
With this latest round, Sierra’s total funding has reached $635 million. This includes a previous $110 million round completed in February last year, led by prominent investors Sequoia and Benchmark, as well as a $175 million round in October, also spearheaded by Greenoaks.
Other notable investors in Sierra include ICONIQ and Thrive Capital, further solidifying the startup’s strong financial backing.
As reported by various tech news outlets, both Taylor and Bavor bring extensive experience in customer service technology to the table. Taylor’s nearly ten-year tenure at Salesforce and his founding of Quip, which was acquired by Salesforce for $750 million, highlight his expertise. Meanwhile, Bavor’s management of Gmail and Google Drive at Google underscores his significant contributions to consumer technology.
The partnership between Taylor and Bavor began at Google, where Taylor played a pivotal role in launching Google Maps before moving on to serve as Facebook’s CTO. He later took on a leadership role on the Twitter board during its acquisition by Elon Musk.
In an exciting development, Taylor recently announced the launch of Sierra’s second year of the APX program, designed for recent graduates in technical fields. This initiative mirrors the program that kickstarted both Taylor’s and Bavor’s careers two decades ago at Google.
This hiring initiative is particularly noteworthy given the current challenging job market, as companies evaluate the implications of AI technologies on their workforce. The APX program aims to provide computer science graduates with hands-on experience in agent engineering and product management, offering what Taylor describes as “an irresponsible amount of responsibility.” New hires will have the opportunity to work on multiple product launches within their first year, reflecting the autonomy and innovation that Taylor and Bavor experienced early in their careers.