Decagon, a company focused on conversational AI agents for concierge-style customer experiences, has raised $250 million in a Series D round led by new investors Coatue Management and Index Ventures. The financing also included new participation from ChemistryVC, Definition Capital, and Starwood Capital, alongside existing backers a16z, A*, Accel, Avra, Bain Capital Ventures, Elad Gil, T.Capital, Forerunner, and Ribbit Capital.
The company said the round triples its valuation over the past six months to $4.5 billion, following a growth-heavy 2025 in which it signed more than 100 new enterprise customers and expanded deployments across consumer-facing sectors, including travel and hospitality, financial services, health and wellness, and online retail. Decagon is positioning its platform as an alternative to legacy customer service and relationship tools, arguing that businesses are moving beyond configuration-heavy systems toward AI-driven, personalized interactions delivered at scale.
Decagon’s pitch centers on what it calls “AI concierge” experiences across channels such as voice, chat, email, and SMS. The company says it helps customer experience, product, and engineering teams launch AI agents using “Agent Operating Procedures,” which pair natural-language direction with code-level controls to ensure safety and speed. Decagon also reported average deflection rates exceeding 80%, framing that metric as evidence that automation can scale while maintaining quality.
The company’s customer list spans major consumer brands and digital-first financial services players. In travel and hospitality, it cited names including Avis and Budget, Hertz, Away Travel, Kindred Rentals, Easy Park, Contiki Group Tours, and Duolingo. In financial services, it cited Block, Affirm, Chime, Varo Bank, Betterment, Carry, Wealthsimple, Bilt, Figure Lending, and Monarch Money. In health and wellness, it cited Oura Health, Noom, Nourish, ClassPass, SimplePractice, Spring Health, Brightside Health, and Eight Sleep. In retail and consumer, it cited Mercado Libre, Hunter Douglas, 1-800-FLOWERS.COM, Ritual Cosmetics, Quince, Fi Smart Collar, and Curology. In commerce and connectivity, it cited Deutsche Telekom, Grubhub, GoPuff, Fanatics Collective, Little Spoon, Misfits Market, and Flashfood.
Decagon also described its customer base as spanning a wide range of AI maturity levels. It said roughly a third of customers had no prior AI automation, while more than half replaced legacy infrastructure such as IVRs, ticketing tools, or CRM-based agents, and a smaller share chose Decagon over building internally. The company added that most customers evaluated multiple AI options and concluded that configuration-driven approaches did not deliver the true concierge experience.
With the new capital, Decagon is leaning into a broader narrative that customer experience AI is shifting from a narrow efficiency initiative to a strategic, revenue-linked platform decision. The company described board-level interest that extends beyond cost reduction to include brand trust and differentiation, while emphasizing operational use cases aimed at faster resolutions and better frontline support.
KEY QUOTES
“Every customer deserves concierge treatment. And every business deserves the technology to make it possible.”
“It’s been an exciting year of fast growth and rapid enterprise adoption, but there’s still so much work to do. We’re grateful to our customers, partners, and investors for backing our bold vision so far, and we can’t wait to show you what comes next.”
Jesse Zhang and Ashwin Sreenivas, Cofounders, Decagon
“This fast growth and large capital investment are both testaments to why our fundamentally different concierge approach to product is winning the market over and disrupting the outdated incumbent strategies.”
Jesse Zhang, CEO and Co-Founder, Decagon
“Decagon is helping redefine how businesses engage with their customers,” “As AI unlocks hyperscale commerce, Decagon is enabling concierge-level interactions at scale. That’s why many trusted and innovative companies are choosing Decagon to modernize their customer experience.”
Lucas Swisher, General Partner, Coatue Management
“We’re investing in Jesse and Ashwin because they’re reimagining customer experience from first principles — treating it as something to be designed with taste, intention, and delight. They’re building the early future of what’s next, even when the present feels locked in. We’ve seen how powerful that mindset can be before, from Figma to Robinhood. And once again, what seems like the foregone conclusion isn’t.”
Sofia Dolfe, Partner, Index Ventures
“At Avis Budget Group, earning customer trust at scale demands operational excellence and a willingness to rethink how service is delivered. With Decagon, we’re moving customer engagement from reactive service to intelligent, concierge-led experiences that empower our frontline teams to resolve issues faster and more effectively. As AI becomes foundational to modern commerce, partnerships like this ensure innovation translates into meaningful outcomes for our customers and our brands.”
Brian Choi, CEO
