Sierra raises $950M as the race to own enterprise AI gets serious

Sierra raised $950 million in a round led by Tiger Global and GV, pushing its post-money valuation above $15 billion.

The company says it now works with more than 40% of the Fortune 50 and has seen rapid recurring revenue growth.

The new capital will help Sierra scale its AI agent platform, including Ghostwriter, beyond customer-facing uses into broader enterprise workflows.

The deal underscores continued investor appetite for enterprise AI platforms, despite the high costs of deployment.