Basis, an AI agent platform for accountants, has raised US$100 million in Series B funding at a US$1.15 billion valuation.
The round was led by Accel and GV, with participation from Khosla Ventures and other existing investors.
Additional backers include NFDG, Better Tomorrow Ventures, BoxGroup and Avid Ventures, alongside individual investors from the technology and finance sectors.
Accel partner Miles Clements will join Khosla Ventures’ Keith Rabois on the board.
Basis said it is currently working with around 30% of the top 25 accounting firms, deploying AI agents that automate end-to-end workflows across client accounting services, tax and audit.
The company positions its software as a response to persistent talent shortages and rising workload pressure across the accounting industry.
“What stands out about Basis is how deeply they think about architecting and deploying real agents that do real work,”
said Miles Clements, partner at Accel.
The platform focuses on so-called “long-horizon” agents that operate over extended periods to complete complex accounting tasks.
Basis works with foundation model providers, including OpenAI, to support these capabilities. The company recently demonstrated an AI agent completing an end-to-end US partnership (1065) tax return.
According to Basis, its tools are delivering efficiency gains of between 20% and 50% across participating firms.
The company will use the new capital to expand its engineering and machine learning teams and to further develop its platform.
“Our focus is to equip accountants with accurate, high-performing AI and help firms improve productivity and quality of work,”
said Matt Harpe, CEO and co-founder of Basis.
Featured image credit: Edited by Fintech News Switzerland, based on image by user6724086 via Freepik
