Basis becomes a unicorn with $100M round
Basis, an AI-for-accounting startup, has raised $100 million in a new funding round that values the company at $1.15 billion, according to Bloomberg. The round was led by Accel and included participation from GV, former Goldman Sachs CEO Lloyd Blankfein, and existing investor Khosla Ventures. The company has now raised $138 million in total.
Automating routine work for accounting firms
Founded in 2023, Basis builds AI agents designed for accounting firms, targeting repetitive tasks such as preparing financial statements, filing tax returns, and tracking expenses. The company’s pitch is that automation can free accountants to focus on higher-value advisory work, including guidance on tax strategy, capital allocation, and long-term planning.
Matt Harpe, CEO of Basis, has positioned the product as support rather than replacement—an argument gaining traction as the industry faces a growing talent squeeze. While the US Bureau of Labor Statistics expects demand for accountants to rise, fewer students are entering the profession and many experienced workers are retiring or leaving.
Expansion plans and “long-horizon” AI agents
Basis says its platform is already used by about 30% of the top 25 accounting firms in the US and 20% of the top 150 firms. With the new capital, the company plans to expand its customer base, deepen functionality in tax and audit, and grow its machine learning and engineering teams.
A key differentiator, the company claims, is its focus on “long-horizon agents”—systems built to handle complex accounting workflows over hours or days rather than responding to quick prompts. Bloomberg reported that Basis works closely with OpenAI models and has developed an agent capable of independently handling complex partnership tax returns.
A crowded and market-moving AI finance landscape
The funding arrives as AI tools increasingly influence both firm operations and investor sentiment. Recent launches and model releases from firms such as Altruist and Anthropic have coincided with stock declines in adjacent sectors, highlighting how quickly automation narratives can ripple through financial markets. Meanwhile, competition is intensifying, with recent deals including General Catalyst backing AI accounting startup Accrual and France’s Pennylane raising a large round led by TCV, according to Bloomberg.
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