Fragment raises $12 million to help keep AI agents from going rogue with company money

Keeping the books straight is a business headache. As companies turn to AI to automate routine financial tasks, they face a new worry: whether they can trust bots with company money. Fragment, a New York-based startup, is developing software designed to reduce costly accounting errors. Founded by serial entrepreneur and CEO Thomas Neckel and CTO Varun Mohan, a former Robinhood engineer, Fragment announced on Wednesday that it raised a $12 million Series A round that closed in mid-2025 to build software that lets AI agents safely handle billing and accounting. Early-stage venture capital firms FirstMark and BoxGroup co-led the financing.