Maxima, an agentic AI platform designed for accounting automation, announced it has secured $41 million in Seed and Series A funding. The capital will support the company’s efforts to redefine the month-end accounting close process through AI agents that collaborate with accounting teams on financial report preparation.
The funding rounds saw participation from Redpoint Ventures, Kleiner Perkins, and Audacious Ventures. Industry leaders and operators also contributed, 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.
Accounting functions often remain manual and prone to errors despite advancements in software. In the first ten months of 2024, 140 U.
S. public companies had to restate their financials due to accounting errors, marking the highest number in nearly a decade. Traditional solutions involving increased headcount have led to more errors, delays, and employee burnout as businesses grow in complexity and data volumes rise. Maxima addresses these challenges by automating reconciliation, journal entries, and close workflows.
Yogi Goel, Maxima’s Co-founder and CEO, drew on two decades of accounting and finance experience from firms like EY, Citigroup, Barclays, and Rubrik. Goel stated, “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. 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.”
Maxima’s platform is purpose-built for accounting, featuring specialized AI agents integrated into each stage of the close process. These agents coordinate across systems to collect and transform data into accounting entries, apply company policies, prepare journals, execute reconciliations, and highlight anomalies with automated commentary. This ensures that when accountants access the platform, much of the work is already prepared, validated, and documented for review and approval.
Operating as an intelligence layer atop existing ERP systems, Maxima has facilitated up to 80% faster closes, 95% automation of manual tasks, and 100% auditability for customers such as Scale AI, SpotOn, and Rippling. Vipin Sethi, Controller at Rippling, commented, “Maxima has significantly reduced our manual burden, especially for accountants managing general ledger accounting across multiple bank accounts and entities. 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.”
Maxima’s Co-founders, Akshaya Srivatsa and Jack Liao, observed similar problems in their previous roles at Meta, Twitter, and Netflix. They noted that many legacy tools in the accounting space primarily coordinate human tasks rather than automating the most arduous parts of the monthly close, such as creating repeat journal entries, performing complex reconciliations, and identifying variances.
Satish Dharmaraj, Managing Director at Redpoint Ventures, remarked, “The complexity of accounting operations has outgrown human capacity. 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.”
Aditya Naganath, Principal at Kleiner Perkins, added, “As businesses generate more financial data across more systems, the surface area for errors and delays has exploded. 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.”
Founded in 2024, Maxima has raised $41 million in funding to develop its agentic AI platform for enterprise accounting, which aims to provide SOX-ready, real-time closes without requiring companies to replace their existing ERP systems.
