The company’s AI agents co-write month-end financial reports with accounting teams, bringing accuracy, speed, and confidence to one of finance’s most manual and error-prone processes

SAN MATEO, Calif.–(BUSINESS WIRE)–Maxima, the agentic AI platform for accounting automation, today announced $41 million in Seed and Series A funding from Redpoint Ventures, Kleiner Perkins, Audacious Ventures, joined by industry leaders and operators including former BlackLine CMO & Chief Strategy Officer Andres Botero, former BlackLine SVP of Operations Eric Borrmann, Rubrik CFO Kiran Choudary, Vanta CFO David Eckstein, and NFL Super Bowl Champion and Liquid 2 Managing Partner Joe Montana. Maxima is redefining the month-end accounting close process with AI agents that co-prepare financial reports alongside accounting teams, ensuring accuracy, consistency, and auditability.

Despite decades of software innovation, accounting remains one of the most manual and error-prone functions in business. In the first ten months of 2024 alone, 140 U.S. public companies were forced to restate their financials due to accounting errors — the highest number in nearly a decade. Each month, accounting teams scramble to reconcile messy data from dozens of disconnected systems just to close the books. Hiring more people has been the default solution, but as businesses grow more complex and data volumes surge, this approach has only led to more errors, longer delays, and widespread burnout.

Maxima addresses this issue head on. The platform automates the heavy lifting across reconciliation, journal entries, and close workflows, so accounting teams can focus on reviewing, validating, and making decisions rather than repetitive grunt work. The result is faster closes, fewer errors, and stronger compliance without expanding headcount or sacrificing control. Maxima Co-founder and CEO, Yogi Goel, brings two decades of accounting and finance experience from EY, Citigroup, Barclays, and Rubrik, where he saw firsthand the accounting challenges that persist even in world-class finance teams.

“I’ve seen too many talented accountants pushed to their limits — working 16- to 20-hour days for weeks on end just to get the books closed,” said Goel. “Accountants are drowning in repetitive, manual work that leaves little time for the judgment, analysis, and strategy their companies actually rely on them for. Maxima’s goal is to change that dynamic by giving accounting teams intelligent systems that can take on the heavy lifting while maintaining accuracy, transparency, and control.”

Accounting is one of the most quantitative, rule-bound, and unforgiving functions in business, which is why generic automation tools rarely work. Maxima takes a purpose-built approach with specialized agents embedded into every step of the close. These agents coordinate across systems to pull data, transform it into accounting entries, apply company policies, prepare journals, perform reconciliations, and flag anomalies with automated commentary. When accountants log in, the work is already prepared, validated, documented, and ready for review and approval. Operating as an intelligence layer on top of existing ERPs, Maxima has delivered up to 80% faster closes, 95% automation of manual work, and 100% auditability for customers like Scale AI, SpotOn, and Rippling.

“Maxima has significantly reduced our manual burden, especially for accountants managing general ledger accounting across multiple bank accounts and entities,” said Vipin Sethi, Controller at Rippling. “What used to be repetitive, low-value work is now automated, freeing our team to focus on deeper reconciliations, analytical reviews, and cross-functional insights — helping even our junior staff develop a stronger understanding of our financials through more meaningful, high-impact work.”

Legacy tools in this space leave accountants scrambling every month because they only coordinate or log the work being done by humans. The most tedious, painful parts of the monthly close process — creating repeat journal entries, performing unwieldy reconciliations, and finding needle in the haystack variances — still need to be performed by humans in high-stakes, complex environments. Goel, along with Co-founders Akshaya Srivatsa and Jack Liao, witnessed this problem repeatedly in their previous roles at Meta, Twitter, and Netflix.

“The complexity of accounting operations has outgrown human capacity,” said Satish Dharmaraj, Managing Director at Redpoint Ventures. “AI can now take on the heavy lifting for accountants in ways that simply weren’t possible before, and we’re deeply confident in Yogi and the Maxima team’s ability to lead this shift. They combine rare domain depth in accounting and finance with the technical rigor needed to build enterprise systems that are both scalable and trustworthy.”

“As businesses generate more financial data across more systems, the surface area for errors and delays has exploded,” said Aditya Naganath, Principal at Kleiner Perkins. “There is a need for AI that can autonomously prepare, reconcile, and validate financials at scale, and we believe Maxima can set a new standard for accuracy and auditability in the AI era.”

To request a demo of Maxima, please visit: http://maxima.ai/book-a-demo

About Maxima

Maxima is the first agentic AI platform for enterprise accounting, purpose built for teams to deliver SOX ready, real-time close without uprooting their ERPs. From journal entries to flux analysis, Maxima automates the most painful and error prone workflows across records to report operations. Founded in 2024, the company has raised $41M in funding, is backed by Redpoint Ventures, Kleiner Perkins, and Audacious Ventures, and was recently named by Redpoint as one of the top companies shaping the AI application layer in its inaugural AI64 list. Learn more at www.maxima.ai.

Contacts

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press@maximahq.com

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