Decagon
ConvictionContext
B2B enterprise SaaS; usage-based pricing on a per-conversation and per-resolution basis, land-and-expand into large enterprise support orgs
Revenue
~$35M ARR annualizedOct 2025, Sacra estimate); ~$10M exiting 2024Rev growth
~3x+ YoYSacra: Q3 2025 GAAP revenue and ARR each grew more than 3x YoYGross margin
not disclosedusage-based AI SaaS; LLM inference is a variable COGS drag vs. classic softwareOp margin
not disclosedassumed deeply negative — growth-stage, heavy R&D + GTM spendCapex intensity
low direct capexasset-light SaaS; compute consumed via third-party LLM/cloud vendors, expensed as COGS not capexValuation
~$4.5BSeries D primary + Mar 2026 tender, both at $4.5BValuation trail
Employee tender at $4.5B6.9× since Oct 2024
4 marks · Oct 2024–Mar 2026
private — no public price
Priced round Secondary / SPAC mark
Series A (~$35M, Jul 2024) valuation not disclosed, so the trail begins at Series B. Valuation roughly tripled from $1.5B to $4.5B in under six months (Jun 2025 to Jan 2026); the Mar 2026 secondary tender re-confirmed the $4.5B primary mark.
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Full financial intelligence for Decagon
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07 (funding figures: Series D Jan 2026 $4.5B; ARR ~$35M annualized as of Oct 2025 per Sacra; Sierra competitor comparison updated to its May 2026 $15.8B round)· sign in (free) for the analyst summary; Pro unlocks full intelligence