Funding round
Sierra Growth
Reported as "Growth Equity"
Sierra, which works in AI customer experience solutions development in San Francisco, raised $175M in a Growth round announced on 28 Oct 2024, led by Greenoaks, at a $4.50B post-money valuation. 3 firms took part. It is Sierra's first venture round on record.
$175M
Amount raised
$4.50B
Post-money valuation
$4.33B pre-money
3
Investors
1 lead
3.9%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Sierra at $4.50B after the new money. The $175M bought investors about 3.9% of the company. It is Sierra's first venture round on record, 6 years after it was founded in 2018. It is 12% of the $1.48B Sierra has raised in the venture rounds on record. Sierra raised again 11 months later: a Growth round of $350M in Sep 2025, at $10.00B post-money.
Investors
Who put money in
Greenoaks led the round with 2 other firms.
Lead investor
- Greenoaks backs 77 venture-backed companies new investor
Also in the round
- ICONIQ Capital new investor
- Thrive Capital backs 130 venture-backed companies new investor
Comparable rounds
How it compares
24 Growth rounds in Software Development Services within a year either side disclosed an amount; the median was $66M, and this round was 2.7 times the median. The closest in time, other companies' Growth rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 1 Oct 2024 | undisclosed | not disclosed | Achieve Partners |
| Software Development Services | 19 Sep 2024 | $100M | not disclosed | Susquehanna Growth Equity |
| Software Development Services | 9 Sep 2024 | $22M | not disclosed | BGF |
| SandboxAQ Software Development Services | 18 Dec 2024 | $300M | $5.60B | not named |
| Software Development Services | 13 Dec 2024 | $200M | not disclosed | Insight Partners |
| Software Development Services | 18 Jul 2024 | $100M | not disclosed | Warburg Pincus |
| Software Development Services | 1 Jan 2025 | $100M | not disclosed | Carrick Capital Partners |
| Software Development Services | 5 Feb 2025 | $230M | not disclosed | KKR |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Sierra raise in its Growth round?
Sierra raised $175M in its Growth round, announced in Oct 2024.
Who led Sierra's Growth round?
Greenoaks led it, with ICONIQ Capital and Thrive Capital.
What was Sierra's valuation at the Growth round?
$4.50B post-money ($4.33B pre-money).
How does it compare with other Growth rounds in Software Development Services?
24 Growth rounds in Software Development Services within a year either side disclosed an amount; the median was $66M, and this round was 2.7 times the median.
Did Sierra raise again after this round?
Yes: a Growth round in Sep 2025 of $350M at $10.00B post-money.