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September 3, 2025 - Deals
Greenoaks Capital Leads $350 Million Funding Round For AI Startup Sierra Valued At $10 Billion
Sierra, the AI startup founded by former Salesforce co-CEO and current OpenAI chair Bret Taylor and former Google exec Clay Bavor, is nearing a $350 million funding round led by Greenoaks Capital that would value the two-year-old company at $10 billion. The company, which builds custom AI agents for enterprise customer service, previously raised $175 million at a $4.5 billion valuation last October and is now on track to surpass $100 million in enterprise annual recurring revenue.
INVESTOR: Greenoaks Capital
AMOUNT: $350,000,000
HQ: #SanFrancisco #California
#VentureCapital #Sierra #BretTaylor #ClayBavor #GreenoaksCapital #TradedVC
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Businesses Increase AI Spending As Anthropic Leads Adoption At 43.5%Ramp’s latest AI Index shows businesses are continuing to increase AI spending despite rising pressure from cheaper and open-source models. In July, the top 1% of businesses spent a median $7,400 per employee on AI, compared with $650 for the top 10% and $11.95 for the median firm, while Anthropic led business adoption at 43.5%, ahead of OpenAI at 39.7%.
#VentureCapital #Ramp #TradedVC