Sierra Achieves $10B Valuation

Sierra Technologies Inc., the AI startup established by Bret Taylor, Chairman of OpenAI, and Clay Bavor, previously an executive at Alphabet Inc., has secured $350 million in funding, pushing the company's valuation to $10 billion. Sierra, launched in 2023, provides a software toolkit that enables businesses to create AI agents, offering pre-packaged building blocks to streamline development.

The Agent SDK equips agents with features like web search and customer support processing. Sierra also offers Agent Studio, a tool for business users to customise agents without coding. The platform facilitates testing through simulated customer conversations. Sierra's platform is used by numerous companies, with a significant portion generating over $1 billion in annual sales.

Sierra's annual recurring revenue is projected to exceed $100 million. The company's AI agents are designed to automate tasks and improve customer experiences. Sierra's focus includes ensuring AI accessibility, safety and utility, with core values encompassing trust, craftsmanship and customer obsession.