Sierra announced it has raised $950 million from new and existing investors led by Tiger Global and GV at a valuation exceeding $15 billion.
The company said the new financing brings Sierra’s total capital raised to more than $1 billion, which it plans to invest in expanding its AI-powered customer experience platform and advancing its position as a global standard for enterprise AI agents.
According to Sierra, the company has grown from four initial design partners to serving more than 40% of the Fortune 50. Sierra said AI agents built on its platform are now powering billions of customer interactions across industries, including insurance, banking, healthcare, telecommunications, retail, and home lending.
The company said AI agents on its platform are increasingly moving beyond traditional customer support use cases such as password resets and order tracking into more advanced functions across the customer lifecycle, including sales, retention, claims processing, mortgage origination, revenue cycle management, and personalized product recommendations.
Sierra highlighted several enterprise deployments as examples of accelerating adoption. Nordstrom launched its voice agent Nora in five weeks, while Singtel deployed its system in 10 weeks and achieved resolution rates exceeding 70%. Cigna also implemented Sierra’s technology in eight weeks, reducing patient authentication times by 80%.
The company said the rapid evolution of AI models and agent technologies is reshaping customer experiences by enabling systems that are more proactive, personalized, and autonomous than previous generations of software.
Sierra said it is focused on helping companies move beyond digitizing customer service channels toward building AI agents capable of managing long-term customer relationships, resolving issues independently, and optimizing for loyalty, retention, and business outcomes.
