London-based Stacks Technologies has secured $23 million in Series A funding to inject "agentic" automation into enterprise financial operations. The round, led by Lightspeed and including General Catalyst, EQT Ventures, and S16VC, follows a $12 million seed raise less than a year ago.
Stacks develops specialized AI agents designed to streamline fragmented financial data across disparate systems like ERPs, spreadsheets, and accounting tools. This fragmentation often forces finance teams to spend excessive time on reconciliation rather than analysis and planning.
The company's platform creates a unified data layer for a consistent financial view. AI agents then automate operational workflows, targeting core functions such as accounting and month-end close. Key automations include monthly close operations, account reconciliations, journal entries, variance analysis, and reporting, all synchronized with an organization's ERP.
"From day one, we focused on solving the core problem of fragmented data," stated Stacks founder and CEO Albert Malikov. "By building an AI-ready data layer, we’re unlocking what’s needed to bring AI agents into operational finance, shifting CFO teams from process execution to higher-value analysis and decision-making."
With this new capital, Stacks plans to expand into "financial intelligence" with a new reporting and analytics suite. The AI Flux Analysis tool uses agents to automate variance analysis, replacing manual commentary with explainable, account-level investigations. Users can query financial data in natural language to identify variance drivers and historical trends.
Stacks currently serves over 30 enterprise customers globally, reporting an estimated 100,000 hours saved through automation of reconciliations and month-end close processes.
Lightspeed Partner Alex Schmitt expressed confidence in Stacks' ability to address complex enterprise finance challenges, citing the team's expertise and the company's traction as drivers for leading the AI shift in the CFO's office.