Ex-Salesforce co-CEO Bret Taylor's Sierra is the latest $10 billion AI startup

Sierra, the cutting-edge AI startup co-founded by Bret Taylor, has achieved a remarkable milestone, reaching a valuation of $10 billion after securing $350 million in new funding. This places Sierra among an elite group of AI firms, including notable names like OpenAI, Anthropic, xAI, Safe Superintelligence, and Thinking Machines, all valued at or above this threshold. Investors are keenly interested in these companies, betting on their potential to thrive in the public markets. Taylor, who previously served as co-CEO of Salesforce alongside Marc Benioff, currently chairs the board of OpenAI. Since its inception in 2023, Sierra has focused on developing AI agents designed for customer service applications, enabling users to delegate various tasks autonomously. Despite a recent 5% drop in Salesforce's shares following disappointing guidance and ongoing questions about AI's impact on software firms, Sierra reports that its agents are currently assisting "hundreds of millions" of users with a variety of tasks, from refinancing homes to ordering meals and resolving tech issues. Greenoaks led the funding round, which significantly boosted Sierra's valuation, more than doubling since its last fundraising effort in October. In a blog post, Sierra emphasized their commitment to long-term growth, stating that the new funds would be invested into enhancing their platform while pursuing both domestic and international expansion. This funding surge comes on the heels of substantial financial activity in the AI sector, highlighted by Anthropic's announcement of a $13 billion funding round at a staggering $183 billion post-money valuation.