AI BriefingFragment raises $12 million Series A to secure AI agents handling company finances
Key point
The New York-based startup, co-led by FirstMark and BoxGroup, follows an $11 million seed round led by Stripe.
Details
Fragment, a New York-based startup founded by CEO Thomas Neckel and CTO Varun Mohan, has raised a $12 million Series A round to develop software that prevents AI agents from making costly accounting errors. The financing, which closed in mid-2025, was co-led by early-stage venture capital firms FirstMark and BoxGroup.
The company’s core product focuses on enabling AI agents to safely handle billing and accounting tasks, addressing the growing concern among businesses about trusting bots with company money. This Series A follows a previous $11 million seed round led by payments company Stripe, with participation from BoxGroup and tech executives including Uber CEO Dara Khosrowshahi and Plaid CEO Zach Perret.
Neckel declined to disclose the company’s valuation following the new funding round.
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