Sierra, a fast-growing startup based in San Francisco, has crossed the $100 million annual recurring revenue (ARR) mark — a milestone it has reached in just 21 months since launching. The achievement underscores the rapidly expanding demand for AI-powered automation in enterprise customer service.
The company was founded by two well-known technology leaders: Bret Taylor, former co-CEO of Salesforce, and Clay Bavor, who previously led major product initiatives at Google. In a company blog post reflecting on their accelerated growth, the founders wrote:
“That’s a heck of a lot quicker than we expected.”
Sierra’s platform is designed to build AI agents that can take on high-touch customer support processes that previously required human interaction. These include identity verification in healthcare, product return workflows, card replacement for financial institutions, and even support for mortgage applications.
While technology companies have been among the early adopters — including names like Discord, Ramp, Rivian, Tubi, and SoFi — what stands out is how quickly established, traditional enterprises are adopting Sierra’s solutions. Major brands such as ADT, Vans, Cigna, SiriusXM, and Bissell are now part of its growing customer base, signalling a broader shift across industries toward AI-enabled service operations.
The company is also backed by leading global investors. A recent funding round of $350 million, led by Greenoaks Capital, valued Sierra at around $10 billion — one of the strongest revenue multiples in the current AI startup landscape.
Instead of standard subscription pricing, Sierra adopts an outcomes-based model, charging clients only when the AI agents successfully complete work. This performance-linked structure appeals to enterprises aiming to directly tie investment to measurable results.
With its blend of high-velocity growth, cross-industry adoption, and a business model aligned with enterprise ROI expectations, Sierra has rapidly positioned itself as a category-defining player in AI customer service. Its momentum highlights a major turning point where businesses aren’t just experimenting with AI agents — they’re scaling them across core service operations.
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