AI drew attention to every kind of futuristic technologies, from humanoid robots to autonomous war ships. But in a highly traditional industry there is a quieter boom: accounting. VC are excited about the perspective of automation of pricey human work with AI, financing firms akin to numerical and Throw Last 12 months to mention only a few.
The latest startup to ride this wave Quantawhich sells the accounting platform consumed by AI to software firms and collected a $ 4.7 million seed round run by Accel, said only TechCrunch. Other investors are Basecase, Comca Capital and San Francisco Angel Investor Elad Gil.
Quanta follows his origin until the founding father of Helen Hastings as a software engineer in Buy-Now, Pay-Lather Afirm, where she saw first hand how outdated accounting software. Obtaining good financial data was very manual and caused reports that appeared only once a month.
“I knew that I wanted to build something from scratch that could help financial teams and business leaders to be more efficient,” said Hastings Techcrunch.
So the Quanty platform raises data from existing fintech tools, akin to Brex, Mercury or Stripe to mechanically create books and reports in real time.
This is a vision that tripped with other startups, akin to Bench, who tried-and did not manage to-the time of some expensive human accountants (600 people at the peak) with AI. But Hastings claims that Quanta will avoid this puzzle by building the AI-First product before employing many books. So, in fact, he initially accepted only customers for whom his automated system can perform all accounting.
Collecting funds is also a personal milestone for Hastings as a founder in a space dominated by men. The percentage of financing, which only goes to firms founded by a woman, akin to Quanta, was only 2% in 2024, According to pitchbook data. Hastings says that the university instructor once told her that he could not imagine that he became the founder. But such moments only revive her more.
Thanks to this obtaining funds, Hastings claims that Quanta plans to go beyond her current area of interest of software firms for early stages to larger firms, including many corporate entities. Hastings says that she is excited about larger organizations to “expect more” from his accounting tools “besides what the sowing were able to advise.”