Sierra, a San Francisco based enterprise software company focused on building AI agents for customer experience, announced that it has raised US$350 million in additional capital at a valuation of US$10 billion.

The funding round was led by Greenoaks.

“Starting Sierra was an early bet that AI agents would transform the enterprise software industry,”

the company said.

“At the time, we had to explain what the word ‘agent’ meant to every potential customer, and we had no idea we would build something that would resonate with businesses this quickly, or deeply.”

Founded 18 months ago, Sierra reports having hundreds of customers across financial services, healthcare, telecommunications, retail, and consumer services.

More than 20% of its customers have revenue above US$10 billion, and over half report revenue above US$1 billion.

In retail, Sierra agents reach more than 90% of Americans.

In healthcare, they reach more than 50% of US families.

In financial services, Sierra agents are in use by large banks in the US and Europe as well as by growing fintech companies.

Use cases include home refinancing, roadside assistance, charge disputes, insurance queries, furniture delivery, printer repairs, internet troubleshooting, food ordering, and home alarm support.

The company stated that the new funding, along with its revenue growth and balance sheet, will support investment in its platform, growth in the US, and international expansion.

Sierra’s Agent OS is designed to enable customer experience teams and developers to build AI agents, with current development focusing on ease of adoption, insights that suggest improvements, and expanding into areas beyond customer service such as sales and engagement.

Sierra is also planning to expand its offices beyond San Francisco, New York, London, and Atlanta, with a larger presence in Europe and Asia.

Featured image credit: Edited by Fintech News America, based on image by jcomp via Freepik