AI accounting platform Maxima secures $41m in new funding

Core Insights - Maxima, an accounting automation platform, has successfully raised $41 million through Seed and Series A funding rounds, aiming to transform accounting via human-AI partnerships [1][6] - The funding round was led by notable investors including Kleiner Perkins, Redpoint Ventures, and Audacious Ventures, with contributions from industry professionals [1][2] Company Overview - Maxima's platform is designed to assist accounting teams during the month-end close process by utilizing AI agents to prepare financial reports [2] - The technology automates various accounting tasks such as journal entries, reconciliation, and close workflows, allowing teams to focus on reviewing outputs and decision-making [3][4] - Co-founder and CEO Yogi Goel has extensive experience in accounting and finance, having worked at organizations like EY, Citigroup, Barclays, and Rubrik [3] Technology and Functionality - Maxima aims to alleviate the burden of repetitive manual work faced by accountants, enabling them to engage in more strategic tasks [4] - The platform employs task-specific AI agents that operate across different company systems to gather data, convert it into accounting records, prepare journals, apply internal policies, perform reconciliations, and identify irregularities with automated commentary [5] - Positioned as an additional layer on top of existing enterprise resource planning systems, Maxima has been adopted by companies such as SpotOn, Scale AI, and Rippling [5] Performance Metrics - Users of Maxima have reported significant improvements, including up to 80% quicker close times, 95% automation of manual tasks, and 100% auditability [6]