Funding round
Decagon Series C
Decagon, which works in conversational AI platform development in San Francisco, raised $131M in a Series C round announced on 22 Jun 2025, led by Accel and Andreessen Horowitz, at a $1.50B post-money valuation. 8 firms took part, 5 of them already investors. It is Decagon's third venture round on record; the one before was a Series B in Oct 2024.
$131M
Amount raised
$1.50B
Post-money valuation
$1.37B pre-money
8
Investors
2 leads
2.3x
Step-up from the Series B
$650M in Oct 2024
8.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Decagon at $1.50B after the new money, 2.3 times the $650M of its Series B (Oct 2024). The $131M bought investors about 8.7% of the company. It came 8 months after Decagon's Series B. It is 28% of the $476M Decagon has raised in the venture rounds on record. Decagon raised again 7 months later: a Series D round of $250M in Jan 2026, at $4.50B post-money.
Decagon's funding rounds
Decagon has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Accel and Andreessen Horowitz led the round with 6 other firms. Accel, Andreessen Horowitz, A* and Bain Capital Ventures and 1 more had backed Decagon before.
Lead investors
- Accel backs 581 venture-backed companies existing investor
- Andreessen Horowitz backs 722 venture-backed companies existing investor
Also in the round
- backs 39 venture-backed companies existing investor
- Bain Capital Ventures backs 220 venture-backed companies existing investor
- BOND backs 91 venture-backed companies existing investor
- Avra new investor
- backs 99 venture-backed companies new investor
- Ribbit backs 126 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations, working capital and geographic expansion.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
- Geographic expansion
Comparable rounds
How it compares
15 Series C rounds in Software Development Services within a year either side disclosed an amount; the median was $75M, and this round was 1.7 times the median. The closest in time, other companies' Series C rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 1 May 2025 | $60M | not disclosed | Robert Bosch Venture Capital and MTR Lab |
| Mistral AI Software Development Services | 9 Sep 2025 | $2.00B | $13.80B | ASML Holding NV |
| Peregrine Software Development Services | 4 Mar 2025 | $190M | $2.50B | Sequoia Capital |
| Software Development Services | 3 Sep 2025 | $100M | $1.50B | Cox Enterprises |
| Druid AI Software Development Services | 16 Sep 2025 | $31M | not disclosed | Cipio Partners |
| Software Development Services | 18 Feb 2025 | $75M | not disclosed | Point72 Ventures |
| Skild AI Software Development Services | 14 Jan 2026 | $1.40B | $14.00B | SoftBank Group |
| Software Development Services | 13 Jan 2026 | $130M | $1.30B | AVP |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Decagon raise in its Series C round?
Decagon raised $131M in its Series C round, announced in Jun 2025.
Who led Decagon's Series C round?
Accel and Andreessen Horowitz led it, with A*, Bain Capital Ventures, BOND, Avra and Forerunner and 1 more.
What was Decagon's valuation at the Series C round?
$1.50B post-money ($1.37B pre-money).
How does it compare with other Series C rounds in Software Development Services?
15 Series C rounds in Software Development Services within a year either side disclosed an amount; the median was $75M, and this round was 1.7 times the median.
Did Decagon raise again after this round?
Yes: a Series D round in Jan 2026 of $250M at $4.50B post-money.