Fazeshift looks to streamline and automate manual processes with AI agents

January 07, 2025 09:00 AM Eastern Standard Time

SAN FRANCISCO–(BUSINESS WIRE)–Fazeshift, an AI agent for Accounts Receivable, raised $4M in seed funding led by Gradient, Google’s early-stage AI fund. The round also included investment from Y Combinator, Wayfinder, Pioneer Fund, Ritual Capital, Phoenix Fund, and prominent angels including Terrence Rohan, Kulveer Taggar, and Rich Aberman.

“The B2B payments stack is being completely reinvented since AI agents have become more mainstream. Finance teams at companies large and small typically struggle with monthly reconciliation and collecting overdue invoices. These finance processes are typically manual and tedious”Post this

Enterprises waste over $200 billion annually managing accounts receivable (AR), bogged down by manual tasks like reconciling payments, generating invoices, and chasing overdue accounts. Fazeshift streamlines this process by automating everything from invoice creation to payment reconciliation, freeing teams from hours of manual work.

Unlike traditional robotic process automation (RPA), which struggles to understand the nuances of AR, Fazeshift’s LLM-powered approach handles complex workflows with ease. Fazeshift’s use of highly specialized LLM prompts tuned to each specific task, allows it to achieve the accuracy and flexibility required for enterprise-grade operations.

“We are seeing AI agents that can reason, perform human-like tasks, and do so with the nuance required for these more sensitive business applications. Eventually we’re going to see all tedious and manual back-office tasks be eliminated. The opportunity for transformation in AR is massive, and this funding allows us to accelerate our product development and customer acquisition efforts,” said Caitlin Leksana, CEO and Co-Founder of Fazeshift.

Fazeshift’s AI agents don’t just answer questions – they can handle complex billing workflows, send customer emails, and even update accounting records. They do this by manipulating the same software tools that human teams previously used. Fazeshift has proven that AI agents can penetrate even the most sensitive business processes.

“The B2B payments stack is being completely reinvented since AI agents have become more mainstream. Finance teams at companies large and small typically struggle with monthly reconciliation and collecting overdue invoices. These finance processes are typically manual and tedious,” said Darian Shirazi, Managing Partner at Gradient. “We’re excited to partner with the Fazeshift team as they streamline finance processes while still giving significant customization and visibility to finance operations teams.”

Fazeshift is already working with several large enterprise customers and automating workflows that previously required teams of 12 people. As the AR space becomes increasingly complex, Fazeshift is positioning itself as the go-to solution for enterprises looking to streamline their AR process.

About Fazeshift

Fazeshift is an AI agent for Accounts Receivable. With Fazeshift, companies can automate their entire accounts receivable process across their existing tools, helping them save time and money, while improving cash flow. Fazeshift is backed by leading investors including Y Combinator and Gradient, Google’s early-stage AI fund. For more information, visit https://fazeshift.com.

About Gradient

Gradient has been investing at the forefront of artificial intelligence since 2017. We are led by former founders, technical experts, and domain specialists who have supported hundreds of AI founders from the beginning. Gradient is headquartered in San Francisco. For more information, visit www.gradient.com.

Contacts

Caitlin Leksana
470-351-9606
caitlin@fazeshift.com

(c)2024 Business Wire, Inc., All rights reserved.