AI accounting startup Basis has successfully secured $100 million in Series B funding, achieving a valuation of $1.15 billion, according to recent reports. The financing round underscores growing investor confidence in agentic AI accounting solutions that can autonomously handle complex financial workflows. This development marks a significant milestone for AI-driven automation in professional services, particularly as accounting firms face ongoing workforce challenges.
The funding round was led by venture capital firm Accel, with participation from GV (formerly Google Ventures), Khosla Ventures, and former Goldman Sachs Chief Executive Lloyd Blankfein, according to the announcement. Basis currently serves approximately seven of the top 25 accounting firms in the United States, the company said.
Understanding Agentic AI Accounting Solutions
Basis operates an AI agent platform specifically designed for accounting professionals, utilizing systems that learn client-specific requirements and execute multi-step accounting tasks independently. Unlike traditional AI tools that simply respond to user prompts, these agentic AI accounting systems can plan, make decisions, and take action autonomously across complex workflows.
The platform represents a shift toward what industry observers call “agent-native operations,” which enable organizations to achieve higher productivity with potentially smaller teams. According to Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors, this approach can deliver significant cost advantages, particularly in early-stage implementation.
Venture Capital Interest in AI Automation
Venture funding for artificial intelligence-linked companies has surged in recent years, with AI startups capturing an increasing share of global deal value. Agentic AI has emerged as one of the most sought-after categories in venture capital, particularly for applications in professional services sectors.
Investors are betting that autonomous AI systems will fundamentally transform how industries operate, moving beyond simple chatbots and assistants to tools capable of managing entire workflows. The accounting sector has become an attractive target for this technology due to its combination of high-skill labor requirements and repetitive, rule-based tasks.
Addressing the Accounting Talent Shortage
The company positions its platform as a solution to the accounting industry’s persistent talent shortage, which has intensified in recent years. The profession has struggled to attract and retain qualified professionals, creating operational challenges for firms of all sizes.
By deploying AI agents that can handle routine accounting tasks autonomously, Basis aims to augment existing teams and reduce the burden of talent acquisition. However, Schulman noted that at scale, these efficiency gains “could mean more competitive market dynamics” as firms adopt similar technologies.
Implications for the Professional Services Industry
The successful funding round signals broader investor interest in AI automation across professional services, extending beyond accounting to legal, consulting, and financial advisory sectors. Additionally, the participation of prominent investors like GV and high-profile individuals such as Blankfein suggests confidence in the long-term viability of agentic AI business models.
Meanwhile, the technology raises questions about workforce transformation in professional services, as firms balance the benefits of automation with the need for human expertise and judgment in complex client situations. In contrast to concerns about job displacement, proponents argue these tools can enable professionals to focus on higher-value strategic work.
The company has not announced specific plans for deploying the new capital, though expansion to additional accounting firms and further platform development appear likely. Industry observers will be watching how quickly Basis can scale its customer base and whether competitive pressures emerge from other AI accounting startups or established financial software providers.