AI accounting startup Basis announced it has raised $100 million in new funding, achieving a $1.15 billion valuation. The capital will accelerate platform development and headcount growth.
Founded in 2023, Basis offers software designed to automate complex accounting workflows using AI agents. These agents leverage large language models, rules-based logic, and domain-specific accounting expertise to handle labor-intensive tasks like document review, reconciliation, and tax preparation. The platform ingests data from various sources, analyzes financial records, and performs calculations while ensuring human oversight for review and approval.
"Our sole focus is to equip accountants with the highest-performing, most accurate AI for accounting and to empower firms to drive new growth, provide higher-value service and improve accountant quality of life," stated Matt Harpe, CEO and co-founder of Basis.
Key platform features include automated tax return preparation, audit testing, workpaper generation, and reconciliation. The system supports document classification, data extraction, and variance analysis, maintaining audit trails that align with firm standards.
Basis reports that approximately 30% of the Top 25 accounting firms are currently deploying its agents for end-to-end workflows across client accounting services, tax, and audit practices. Notable clients include Boulay PLLP, Clark Nuber PS, and UHY LLC.
The Series B funding round was led by Accel Partners, GV Management Company (Google Ventures), and Lloyd Blankfein, with participation from Khosla Ventures and other investors, including prominent tech CEOs. This funding follows a $34 million round in December 2024.