Bret Taylor's Sierra Acquires AI Startup Fragment

Sierra Strengthens Its Strategy with the Acquisition of Fragment

Sierra, the startup specializing in customer service agents and co-founded by Bret Taylor, announced on Thursday the acquisition of Fragment, a French startup backed by Y Combinator. Fragment stands out for its ability to help companies integrate artificial intelligence into their workflows.

This marks Sierra's third public acquisition, having already acquired Opera Tech, a Japanese company specializing in AI solutions, and Receptive AI, a voice agent company, both in March of this year. The co-founders of Fragment, Olivier Moindrot and Guillaume Genthial, will join Sierra, bringing their expertise to support the development of Sierra's agents in France.

Expansion Supported by Major Investments

The financial details of the agreement with Fragment have not been disclosed, but PitchBook estimates that Fragment raised approximately $2 million in its first funding round. Bret Taylor, also the chairman of the board at OpenAI, founded Sierra with Clay Bavor, a former Google executive, after leaving his position as co-CEO at Salesforce in early 2023.

Sierra has already raised over $630 million in funding, with prestigious investors such as Sequoia and Benchmark, giving it an impressive valuation of $10 billion. Notable clients include companies like Casper, Clear, and Brex.

A Valuable Asset for Development in France

In a blog post, Taylor and Bavor expressed their enthusiasm about the arrival of Moindrot and Genthial, emphasizing that they will bring a "valuable asset" to Sierra's efforts to develop its agents in France. This acquisition not only strengthens Sierra's presence in Europe but also enhances its expertise in artificial intelligence, a rapidly growing field.