Company · Agents & apps
Decagon revenue, valuation & funding
Decagon was valued at $4.5B in its Series D, announced in January 2026, and told Newcomer in August 2026 it had passed $100M in annualized revenue. It's a private company with no stated IPO plan, and in October 2026 it was reported to be weighing a sale.
At a glance
- Valuation: $4.5B at its Series D, announced in January 2026. Staff sold shares at the same figure in a March 2026 tender offer.
- Revenue: more than $100M in annualized revenue in August 2026, as the company told Newcomer. Decagon publishes no audited results.
- Status: private. No stock ticker and no stated IPO plan. Reported in October 2026 to be weighing a sale.
- Founded: August 2023, by Jesse Zhang and Ashwin Sreenivas.
- CEO: Jesse Zhang.
- Investors: Coatue, Index Ventures, Accel, Andreessen Horowitz, Bain Capital Ventures and T.Capital, among others.
- Products: AI agents for customer support over text and voice, built on Agent Operating Procedures, plus Duet and Voice 3.
- Headquarters: San Francisco, with offices in New York City and London.
- On Real Alpha: 17 moments of its people talking, from 3 interviews.
Is Decagon public? Can you buy its stock?
No. Decagon is a private company, so its shares don't trade on any stock exchange and it has no ticker symbol.
No IPO plan or timing has been reported, and no filing has been made.
In October 2026 Business Insider reported that Decagon had hired a bank to weigh purchase interest (PYMNTS). The report said it had early talks with ServiceNow and others. ServiceNow's president Amit Zavery denied any interest the same day. No deal had been reported as of October 21.
Its shares are held by its founders, staff and investors. In March 2026 more than 300 employees could sell part of their vested shares at the $4.5B valuation (TechCrunch). This page reports facts and gives no investment advice.
Valuation, round by round
Its valuation tripled from $1.5B in June 2025 to $4.5B in January 2026.
| Date | Valued at | Raised | Led by | Source |
|---|---|---|---|---|
| Jan 2026 | $4.5B | $250M | Coatue Management and Index Ventures | Business Wire |
| Jun 2025 | $1.5B | $131M | Accel and Andreessen Horowitz (Growth Fund) | Business Wire (Decagon press release) |
A $65M Series B at a $650M valuation in October 2024 is cited by Sacra, but we found no primary report of it, so it isn't counted as confirmed. The T.Capital investment's amount wasn't disclosed.
Revenue
Decagon doesn't publish results. It said in June 2025 it had grown from zero to eight figures in annual recurring revenue in a year. It told Newcomer in August 2026 it had crossed $100M in annualized revenue.
| Date | Figure | Basis | Source |
|---|---|---|---|
| Aug 2026 | $100M | Reported | Newcomer, via PYMNTS |
A run rate is a month's revenue times twelve. It isn't a year's audited revenue. Sacra estimates the run rate more than doubled from $44M at the end of 2025 to $100M in July 2026.
How Decagon makes money
Decagon sells AI agents that handle customer support conversations for large companies. It signs enterprise contracts and charges by usage.
- Two pricing models. Sacra says it charges per conversation or per resolution. There is no published price list. Sacra
- TaskUs. A go-to-market partner that deploys Decagon across digital and voice channels, per Sacra. Sacra
- OpenAI's marketplace. In October 2026 Decagon said it is partnering with OpenAI on its new B2B marketplace. Decagon blog
- Partner Community. Decagon announced the Decagon Partner Community on October 30, 2026. Decagon blog
From Decagon's interviews
- 25:17 Six customers and $1 million made PMF feel realJesse Zhang · Grit · Sep 2026
- 2:13 Customer pain should shape the product before strategyAshwin Sreenivas · Knuckle Up with Nakul · May 2026
- 13:09 Decagon accepts coordination costs to preserve speedAshwin Sreenivas · Knuckle Up with Nakul · May 2026
Products
Its agents answer customers over text and voice. Most of its 2026 launches came at its Decagon Dialogues event on October 1.
- Agent Operating Procedures (AOPs). The base of the platform. They combine natural-language instructions with code-level precision. Business Wire
- Voice (February 2025). A phone channel launched through a partnership with ElevenLabs. CMSWire
- Voice 2.0 (September 2025). Sacra says it cut latency by 65% and added memory across channels. Sacra
- Proactive Agents (March 2026). Agents that reach out to customers, which Decagon calls an AI concierge. Business Wire
- Duet Autopilot (June 2026). A self-improving AI agent for customer experience. Business Wire
- Voice 3 (October 1, 2026). It ships with Chord, the first voice model from Decagon Labs, post-trained for customer conversations. Decagon blog
- Duet Apprentice (October 1, 2026). Lets Duet learn a customer's business. Decagon blog
- Agent Modules (October 1, 2026). Extends agents to journeys beyond support, in finance, travel, healthcare, retail and telecom. Decagon blog
- Personal Agent Gateway (October 1, 2026). Detects customers' personal agents and gives them a dedicated channel. Decagon blog
From Decagon's interviews
- 57:19 Decagon fine-tunes smaller models for specific customer tasksAshwin Sreenivas · Knuckle Up with Nakul · May 2026
- 24:50 Open source pays off once AI workflows are stableJesse Zhang · The Information's TITV · Jul 2026
- 31:18 AI writes most code, but Decagon engineers remain accountableAshwin Sreenivas · Knuckle Up with Nakul · May 2026
Customers
Decagon said it signed more than 100 new enterprise customers in 2025 (Business Wire). It reported average deflection rates above 80%.
In June 2025 it said it had helped tens of millions of customers.
Modal CEO Erik Bernhardsson said in October 2026 that Decagon uses Modal for customer support work in voice and text.
- Named customers. Avis Budget Group, Chime, Oura Health, 1-800-FLOWERS.COM and Hunter Douglas. Its logo wall also shows Deutsche Telekom, American Airlines, Delta and Notion. Decagon's about page
- Deutsche Telekom began a commercial pilot in November 2025. CMSWire
From Decagon's interviews
- 7:57 Decagon brings engineers into customer sales and supportAshwin Sreenivas · Knuckle Up with Nakul · May 2026
- 40:01 Most AI companies need product-minded FDEsAshwin Sreenivas · Knuckle Up with Nakul · May 2026
- 19:24 Hard customer discovery helped Decagon escape the idea mazeJesse Zhang · Grit · Sep 2026
Leadership
Decagon had more than 300 employees at its March 2026 tender offer. Jesse Zhang said in September 2026 that it had grown from about 50 to 500 people.
- Jesse Zhang, co-founder and CEO. He previously founded Lowkey, which Niantic acquired in 2021. Decagon's about page
- Ashwin Sreenivas, co-founder and president, per Decagon's about page. Wikipedia lists him as CTO. He previously founded Helia, which Scale AI acquired in 2020. Decagon's about page
From Decagon's interviews
- 9:49 Decagon uses culture interviews to protect its hiring barJesse Zhang · Grit · Sep 2026
- 25:52 Decagon uses bar raisers to protect its hiring barAshwin Sreenivas · Knuckle Up with Nakul · May 2026
- 54:00 Culture values work better as actionable behaviorsJesse Zhang · Grit · Sep 2026
- 35:05 AI shifts engineers toward judgment and EPD leaders toward alignmentAshwin Sreenivas · Knuckle Up with Nakul · May 2026
Who owns Decagon?
Its founders, staff and investors. As a private company it doesn't publish who holds what, and no stake has been disclosed.
It has raised about $481M in total, according to Tracxn data cited by SiliconANGLE.
- Coatue Management and Index Ventures led the $250M Series D in January 2026. Business Wire
- Accel and Andreessen Horowitz's Growth Fund co-led the $131M Series C in June 2025. Business Wire (Decagon press release)
- T.Capital, Deutsche Telekom's corporate venture arm, made a strategic investment in November 2025. The amount wasn't disclosed. Business Wire (Decagon press release)
- Bain Capital Ventures led a $65M Series B in October 2024, according to Sacra, though no primary report confirms it. Sacra
- ChemistryVC, Definition Capital, Starwood Capital Group, A* Capital, Avra Capital, Elad Gil, Forerunner Ventures and Ribbit Capital also joined the Series D. SiliconANGLE
Competitors
Sacra counts enterprise AI customer service platforms as Decagon's most direct competitors. Jesse Zhang says customers build, test and monitor agents in Decagon's product, unlike a services-heavy model.
- Sierra, named by Sacra as a competitor. Sacra
- Salesforce, named by Sacra as a competitor. Sacra
- Zendesk, Forethought, Gorgias and Intercom, also named by Sacra. Sacra
What its people said about the competition
- 36:16 Decagon differentiates by giving customers control of AIJesse Zhang · Grit · Sep 2026
Timeline and latest news
From its founding to the latest reports, newest first.
- Oct 30, 2026Latest
Announced the Decagon Partner Community. Decagon blog - Oct 13, 2026Latest
Business Insider reported it had hired a bank to weigh a possible sale. PYMNTS - Oct 13, 2026Latest
ServiceNow denied any interest in buying Decagon. PYMNTS - Oct 7, 2026
Named a Gartner Cool Vendor in a 2026 CRM report. Decagon blog - Oct 2, 2026
Said it is partnering with OpenAI on its new B2B marketplace. Decagon blog - Oct 1, 2026
Introduced Voice 3 with Chord, its first in-house voice model, at Decagon Dialogues. Decagon blog - Aug 11, 2026
Told Newcomer it had crossed $100M in annualized revenue. Newcomer, via PYMNTS - Jun 2026
Introduced Duet Autopilot, a self-improving agent. Business Wire - Mar 4, 2026
Completed its first employee tender offer at the $4.5B valuation. TechCrunch via Yahoo Finance - Mar 2026
Unveiled Proactive Agents. Business Wire - Jan 28, 2026
Announced a $250M Series D at a $4.5B valuation, led by Coatue and Index Ventures. Business Wire - Nov 2025
Announced a commercial pilot with Deutsche Telekom. CMSWire - Sep 2025
Launched Voice 2.0 with cross-channel memory, according to Sacra. Sacra - Jun 23, 2025
Raised a $131M Series C at a $1.5B valuation, co-led by Accel and Andreessen Horowitz. Business Wire (Decagon press release) - Feb 2025
Launched its Voice channel through a partnership with ElevenLabs. CMSWire - Aug 2023
Founded by Jesse Zhang and Ashwin Sreenivas. Sacra
In their own words, and what followed
What people said about the business, with the minute they said it, and what was reported after.
Ashwin Sreenivas on Knuckle Up with Nakul · May 19, 2026
“you can get a model to do better at the few things that you care about in a smaller model”
57:19 Decagon fine-tunes smaller models for specific customer tasks
Reported after
In October 2026 Decagon introduced Voice 3 with Chord, the first voice model from Decagon Labs, post-trained for customer conversations. Decagon blog
Ashwin Sreenivas on Knuckle Up with Nakul · May 19, 2026
“you have to give somewhere and we gave for speed”
13:09 Decagon accepts coordination costs to preserve speed
Reported after
The next month Decagon introduced Duet Autopilot, a self-improving AI agent for customer experience. Business Wire
Jesse Zhang on Grit · Sep 21, 2026
“there's a lot of people that want this people are willing to pay us real contracts”
25:17 Six customers and $1 million made PMF feel real
Reported after
Three weeks later Business Insider reported that Decagon had hired a bank and held early sale talks with ServiceNow and others. ServiceNow denied any interest. PYMNTS
What others say about Decagon
Moments where people outside the company talk about it.
Erik Bernhardsson · Unsupervised Learning · Oct 28, 2026
“Decagon is another customer that uses us for a lot of customer support stuff, voice and text.”
21:21 Inference providers need a platform beyond token serving 4 min
Questions people ask
Is Decagon a public company? Can I buy Decagon stock?
No. Decagon is private and has no ticker, so its shares aren't sold on any exchange. No IPO plan has been reported.
When will Decagon IPO?
No IPO plan or timing has been reported, and it hasn't filed. In October 2026 it was reported to be weighing a sale, and ServiceNow denied interest (PYMNTS).
Who owns Decagon?
Its founders, staff and investors, including Coatue, Index Ventures, Accel, Andreessen Horowitz, Bain Capital Ventures and T.Capital. Stakes haven't been disclosed.
Who is the CEO of Decagon?
Jesse Zhang, who co-founded it in 2023. He previously founded Lowkey, which Niantic acquired.
Who founded Decagon?
Jesse Zhang and Ashwin Sreenivas, in August 2023. 14:18
How much is Decagon worth?
$4.5B at its Series D, announced in January 2026 (Business Wire). Employees sold shares at the same figure in March 2026.
How much revenue does Decagon make?
It told Newcomer in August 2026 that it had crossed $100M in annualized revenue (PYMNTS). Sacra estimates it was $44M at the end of 2025. 25:17
Is Decagon profitable?
It doesn't publish profit or loss figures, and none have been reported.
How does Decagon make money?
It sells AI support agents to companies, charging per conversation or per resolution, according to Sacra. 2:13
Who are Decagon's customers?
It signed more than 100 new enterprise customers in 2025. It names Avis Budget Group, Chime, Oura Health, 1-800-FLOWERS.COM and Hunter Douglas. 7:57
Where is Decagon headquartered?
San Francisco, with offices in New York City and London.
Who are Decagon's competitors?
Sacra lists Sierra, Salesforce, Zendesk, Forethought, Gorgias and Intercom. 36:16
Every moment from Decagon's people
17 moments from 3 interviews on 3 shows, newest first. Each one plays from the minute it starts.
Grit · Sep 21, 2026 · 8 moments
Inside Decagon: Finding PMF, Hiring Fast, and Scaling 10x
- 36:16 Decagon differentiates by giving customers control of AI 5 min
- 19:24 Hard customer discovery helped Decagon escape the idea maze 3 min
- 9:49 Decagon uses culture interviews to protect its hiring bar 4 min
- 25:17 Six customers and $1 million made PMF feel real 3 min
- 40:57 Product marketing fits an early, amorphous company 3 min
- 30:49 A downturn may make recruiting easier 3 min
- 14:18 A prior startup taught Jesse preferences, not a playbook 3 min
- 54:00 Culture values work better as actionable behaviors 3 min
The Information's TITV · Jul 15, 2026 · 1 moment
TITV One Year Anniversary Show
Knuckle Up with Nakul · May 19, 2026 · 8 moments
The AI founder advice you won’t hear on X | Ashwin Sreenivas (Co-Founder at Decagon)
- 2:13 Customer pain should shape the product before strategy 4 min
- 13:09 Decagon accepts coordination costs to preserve speed 4 min
- 40:01 Most AI companies need product-minded FDEs 3 min
- 7:57 Decagon brings engineers into customer sales and support 5 min
- 25:52 Decagon uses bar raisers to protect its hiring bar 3 min
- 31:18 AI writes most code, but Decagon engineers remain accountable 4 min
- 35:05 AI shifts engineers toward judgment and EPD leaders toward alignment 5 min
- 57:19 Decagon fine-tunes smaller models for specific customer tasks 3 min
People on Real Alpha
- Jesse Zhang, Co-founder & CEO, Decagon · 9 moments
- Ashwin Sreenivas, Co-founder & President, Decagon · 8 moments
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How this page is sourced
Each figure links to the filing, company statement or news report it came from, with its date. Run rates are what reporters were told, not audited results; estimates and unconfirmed reports are marked. Quotes are what each person said on the record, with the minute they said it. Spotted something that's off? .
Last checked Nov 7, 2026