Bret Taylor's Sierra Acquires YC-Backed AI Startup Fragment
Sierra, a customer service agent startup founded by Bret Taylor, has acquired Fragment, a French AI startup that helps businesses integrate AI into workflows.
Sierra, the customer service agent startup founded by Bret Taylor, announced on Thursday that it has acquired Fragment, a YC-backed French startup that specializes in helping businesses integrate AI into their workflows. This marks Sierra's third public acquisition, following the company's purchase of Japan-based enterprise AI solutions company Opera Tech and voice agent company Receptive AI, both of which were acquired in late March. As part of the deal, Fragment co-founders Olivier Moindrot and Guillaume Genthial will be joining the Sierra team.
In a blog post, Taylor and his co-founder, Clay Bavor, noted that Moindrot and Genthial will bring valuable expertise to Sierra's agent development efforts in France. The terms of the deal were not disclosed. According to PitchBook, Fragment raised around $2 million through its seed round.
Taylor, who also serves as chairman of the board at OpenAI, co-founded Sierra alongside Google alum Bavor after stepping down as co-CEO of Salesforce in early 2023. The startup counts Casper, Clear, and Brex among its customers and has raised over $630 million in funding to date, with a valuation of $10 billion. Its investors include Sequoia and Benchmark.
The acquisition is Sierra's latest move to expand its capabilities in AI-powered customer service. With Fragment's technology, Sierra aims to further enhance its agent development efforts and provide more sophisticated solutions for its clients. Sierra's growth and expansion have been significant, with the company establishing itself as a major player in the customer service agent market.
The acquisition of Fragment is expected to strengthen Sierra's position in the industry and enable it to better serve its customers. The deal also highlights the increasing importance of AI integration in business workflows, as companies look to leverage the technology to drive efficiency and innovation. As a leader in the space, Sierra is well-positioned to capitalize on this trend and continue its growth trajectory.
Source: TechCrunch