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Sierra, a San Francisco-based AI customer service startup co-founded by Bret Taylor and Clay Bavor, achieved $100 million in annual revenue run rate (ARR) within 21 months. The rapid growth surprised even its seasoned founders, who noted the pace exceeded expectations. The company serves diverse industries, including tech firms like Deliveroo and traditional businesses such as Cigna. Sierra’s AI agents automate tasks like healthcare authentication and mortgage applications, positioning it as a leader in the customer service AI space. Its $10 billion valuation following a $350 million funding round highlights its market potential.
Key facts
- Sierra reached $100 million in annual revenue run rate (ARR) within two years of its founding.
- The startup’s customer base includes both tech companies (e.g., Discord) and traditional businesses (e.g., ADT).
- Sierra employs an outcomes-based pricing model, charging for completed tasks rather than subscriptions.
- Founders Bret Taylor and Clay Bavor, former Google and Salesforce executives, launched the company after leaving their previous roles.
- The startup is valued at $10 billion following a $350 million funding round led by Greenoaks Capital.
TAGS:
#AI automation #AI customer service #Bret Taylor #enterprise software #Sierra #startup growth #venture capital
