San Mateo, California-based AI accounting startup Maxima has raised $41 million in a new funding round led by Kleiner Perkins and Redpoint Ventures, taking its valuation to $143 million just one year after launching. The company is attempting to reinvent enterprise accounting by relying on autonomous AI agents rather than manual workflows.
The company plans to use the new funds to expand its 31-person team and accelerate product development. Maxima was founded by Yogi Goel (CEO) along with Akshaya Srivatsa (CPO), formerly at Twitter; and Jack Liao (CTO), formerly at Netflix – bringing deep engineering expertise to the product.
Maxima’s platform automates processes such as reconciliations, journal entries, and flux analysis, with humans only stepping in to review results. This model marks a clear departure from legacy enterprise systems like SAP or Blackline, which still depend heavily on manual data handling.
“They (legacy providers) had the central assumption humans will do the work and they log the work for auditors to come check the work. We are completely starting this from scratch where we are saying agents will do the work and humans will review it.” said Maxima co-founder and CEO Yogi Goel to Reuters
Addressing concerns about reliability, Goel said the company has “processed millions of transactions for our customers and not a single error that has been made.”
Early customers of Maxima include Scale AI, Rippling, and SpotOn. Scale AI’s head of accounting, Joshua Waldron, said Maxima’s platform has cut time taken for tasks such as flux analysis to hours from days. – according to Reuters
As enterprise functions increasingly adopt AI, Maxima’s rapid growth shows how back-office operations like accounting may become one of the biggest beneficiaries of automation.
