Decagon’s Valuation Triples to $4.5 Billion as it Ushers in the Age of AI Concierge

New investors Coatue Management and Index Ventures lead $250 million Series D round

SAN FRANCISCO–(BUSINESS WIRE)–Decagon, the leader in conversational AI agents for concierge customer experiences, today announced $250 million in Series D funding, led by new investors Coatue Management and Index Ventures, with participation from new investors ChemistryVC, Definition Capital, and Starwood Capital, and continued support from existing investors including a16z, A*, Accel, Avra, Bain Capital Ventures, Elad Gil, T.Capital, Forerunner, and Ribbit Capital.

The round triples Decagon’s valuation in just six months to $4.5 billion, and comes on the heels of a fast-growing 2025 during which the company signed more than 100 new enterprise customers and rapidly expanded deployment across global consumer-facing industries including travel and hospitality, financial services, health and wellness, and online retail.

“This fast growth and large capital investment are both testaments to why our fundamentally different concierge approach to product is winning the market over and disrupting the outdated incumbent strategies,” said Jesse Zhang, CEO and Co-Founder of Decagon.

Decagon creates alignment between customers and businesses in the age of AI

The CRM generation of configuration and ‘managing’ relationships is over. By making concierge experiences possible at both the individualized level and at global scale, Decagon is restoring alignment between businesses and customers.

“We believe every customer deserves concierge treatment,” said Jesse Zhang and Ashwin Sreenivas, Decagon’s cofounders. “And every business deserves the technology to make it possible.”

“Decagon is helping redefine how businesses engage with their customers,” said Lucas Swisher, General Partner at Coatue Management. “As AI unlocks hyperscale commerce, Decagon is enabling concierge-level interactions at scale. That’s why many trusted and innovative companies are choosing Decagon to modernize their customer experience.”

“We’re investing in Jesse and Ashwin because they’re reimagining customer experience from first principles — treating it as something to be designed with taste, intention, and delight,” says Sofia Dolfe, Partner at Index Ventures. “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.”

“At Avis Budget Group, earning customer trust at scale demands operational excellence and a willingness to rethink how service is delivered,” said Brian Choi, CEO. “With Decagon, we’re moving customer engagement from reactive service to intelligent, concierge-led experiences that empower our frontline teams to resolve issues faster and more effectively. As AI becomes foundational to modern commerce, partnerships like this ensure innovation translates into meaningful outcomes for our customers and our brands.”

Read more about the Concierge vision on the Decagon blog.

AI concierge for every business: a board-level mandate, a business-level mission

As enterprises define their next-generation transformational AI strategies, Decagon is increasingly discussed at the board level, not only as a cost-reduction tool, but as core infrastructure for revenue growth, brand trust, and long-term differentiation.

And at the operational level, Decagon empowers customer experience, product, and engineering teams with Agent Operating Procedures, combining natural language instructions with code-level precision to launch AI agents quickly and safely. Across the platform, Decagon already achieves average deflection rates exceeding 80%, demonstrating that scale and quality can work in harmony. That’s why today, Decagon already powers AI concierge experiences for leading consumer and enterprise brands across daily life, including:

• Travel & hospitality: Avis and Budget, Hertz, Away Travel, Kindred rentals, Easy Park, Contiki group tours, and Duolingo language learning
• Financial services: Block, Affirm, Chime, Varo Bank, Betterment, Carry, Wealthsimple, Bilt, Figure Lending, and Monarch Money
• Health & wellness: Oura Health, Noom, Nourish, ClassPass, SimplePractice, Spring Health, Brightside Health, and Eight Sleep
• Retail & consumer: Mercado Libre, Hunter Douglas, 1-800-FLOWERS.COM, Ritual Cosmetics, Quince, Fi Smart Collar, and Curology
• Commerce & connectivity: Deutsche Telekom, Grubhub, GoPuff, Fanatics Collective, Little Spoon, Misfits Market, and Flashfood

Finally, Decagon’s customer base reflects the full spectrum of AI adoption, from businesses just getting started to those replacing first-wave automation infrastructure or internal builds.

• 33% had no prior AI automation
• 53% replaced legacy systems such as IVRs, ticketing tools, or CRM-based agents
• 14% chose Decagon over building in-house
• Nearly all had evaluated other AI solutions—and found that configuration-driven tools failed to deliver real concierge experiences

“It’s been an exciting year of fast growth and rapid enterprise adoption, but there’s still so much work to do,” added Zhang and Sreenivas. “We’re grateful to our customers, partners, and investors for backing our bold vision so far, and we can’t wait to show you what comes next.”

About Decagon

Decagon is the leading conversational AI platform empowering every brand to deliver an AI concierge for every customer. Our technology helps enterprises like Avis Budget Group, Chime, Oura Health, 1-800-FLOWERS.COM, and Hunter Douglas deploy AI agents that power personalized, deeply satisfying interactions across voice, chat, email, SMS, and every other channel.

Headquartered in San Francisco with offices in New York City and London, we’re proud to be backed by world-class investors who share our vision to help every business create the concierge experiences their customers deserve. To learn more, please visit www.decagon.ai

Contacts

Emilie Cole
Decagon Communications
[email protected]