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Decagon, an AI customer support and operations platform, raised $250 million in Series D funding, tripling its valuation to $4.5 billion in under six months.
Coatue Management and Index Ventures led the round, with participation from new investors Definition Capital, Starwood Capital and ChemistryVC as well as existing investors a16z, A*, Accel, Avra, Bain Capital Ventures, Elad Gil, Forerunner, Ribbit Capital and T.Capital.
WHAT IT DOES
San Francisco-based Decagon works with various industries to offer AI agents that communicate with customers and patients via chat, email and messaging.
In the healthcare sector, the agents are used to answer patient and member questions and accelerate member enrollment for health plans by guiding members through plan selection, onboarding and benefits questions.
The company says its AI can also assist with scheduling appointments and reminders and engage with patients regarding prescription reminders, including usage and refills.
"We’re investing in Jesse [Zhang, cofounder and CEO] and Ashwin [Sreenivas, cofounder and president] because they’re reimagining customer experience from first principles – treating it as something to be designed with taste, intention and delight," Sofia Dolfe, partner at Index Ventures, said in a statement.
"They’re building the early future of what’s next, even when the present feels locked in. We’ve seen how powerful that mindset can be before, from Figma to Robinhood. And once again, what seems like the foregone conclusion isn’t."
MARKET SNAPSHOT
Decagon works in numerous industries, including retail, travel and hospitality, technology, financial services, media and telecommunications.
In June 2024, the company announced it raised $5 million in seed funding and $30 million in Series A investment. a16z led the seed round, and Accel led the Series A, with participation from numerous investors.
In October of that year, Decagon announced it secured $65 million in Series B funding, bringing its total funding to around $100 million by late 2024.
In June 2025, Decagon garnered $131 million in Series C funding, bringing its valuation to $1.5 billion.
