Basis, a startup developing AI-powered tools for accountants, has raised $34 million in a Series A funding round led by Khosla Ventures Managing Director Keith Rabois, with participation from former GitHub CEO Nat Friedman and Safe Superintelligence Co-Founder Daniel Gross. The funding will accelerate the company’s mission to equip accountants with AI agents that handle repetitive tasks, enabling professionals to focus on higher-level work.
The company announced the round in a blog post, stating, “We’ve raised $34M to accelerate our goal of equipping every accountant with a team of AI agents.”
Founded to tackle inefficiencies in accounting, Basis provides AI agents that learn client-specific needs, perform tasks independently, and report results back to accountants. According to the company, these agents have saved accountants up to 30% of their total time during deployments with select U.S. firms.
“Accountants don’t need more software; they need tools that understand accounting, adapt to client needs, and work autonomously,” the company explained.
In September, Basis partnered with New Jersey-based CPA firm Wiss, which deployed Basis’ AI platform across its Client Accounting Services (CAS) practice following a 10-month beta test. Wiss Partner Mike Castle described the platform as instrumental in reducing manual work and enhancing client experiences.
“Our initial tests showed enormous potential for Basis to reduce the amount of manual work while providing higher-quality client services,” Castle said, calling it a key enabler for scaling their CAS practice.
The Series A round comes just over a year after Basis raised $3.6 million in a seed round in October 2023. The funding underscores growing interest in AI tools within the accounting industry, as noted by venture capital firm Andreessen Horowitz, which highlighted the sector’s eagerness to adopt AI to improve efficiency and manage increasing workloads.
