Bret Taylor's Sierra reaches $100M ARR in under two years | TechCrunch

"That's a heck of a lot quicker than we expected."

"The company says it can build AI agents that can handle tasks like authenticating patients for healthcare providers, processing returns, ordering replacement credit cards, and helping customers apply for mortgages - essentially automating customer service work that previously required human agents."

"Based on its $100 million ARR, the Sierra is currently valued at a 100x revenue multiple, a hefty valuation despite its exceptionally fast growth."

Sierra, a 21-month-old San Francisco startup, reached $100 million in annual revenue run rate. The company builds AI customer-service agents that automate tasks such as authenticating patients, processing returns, ordering replacement credit cards, and helping customers apply for mortgages. Customers include Deliveroo, Discord, Ramp, Rivian, SoFi, Tubi, and established businesses like ADT, Bissell, Vans, Cigna, and SiriusXM. Co-founders Bret Taylor and Clay Bavor said growth exceeded expectations and adoption extended beyond tech firms. Sierra raised $350 million led by Greenoaks at a $10 billion valuation, implying roughly a 100x revenue multiple, and uses outcomes-based pricing. Competitors include Decagon and Intercom.

Read at TechCrunch