Decagon has completed a 250 million dollar Series D round, lifting the company’s valuation to 4.5 billion dollars and setting the stage for its first employee tender offer. The program is designed to give staff liquidity by letting them sell a portion of their vested shares at the latest valuation.
Tender offer and investors
More than 300 employees will be eligible to sell part of their equity through the tender, which functions as a secondary transaction rather than issuing new shares. The deal is being led by investors from the recent Series D round, including Coatue, Index, Andreessen Horowitz, Definition, Forerunner, and Ribbit.
Retention strategy in AI startups
Employee tender offers have become a regular feature at high-growth AI companies, where compensation is heavily skewed toward equity and IPO timelines remain uncertain. Programs at firms like ElevenLabs, Linear, and Clay show how startups are using structured liquidity events to improve retention, reduce pressure for early exits, and keep teams focused on long-term product and market goals.
Product and customers
Decagon builds AI-powered customer support agents that autonomously handle inquiries over chat, email, and voice channels. Its technology is used by brands such as Avis Budget Group, 1-800-Flowers, Oura Health, Quince, and Away Travel, which rely on the platform to scale support operations while maintaining response quality and consistency.
