AI-driven AR automation platform Fazeshift raises $4m seed funding

January 7, 2025

Fazeshift, an AI-driven platform for automating accounts receivable (AR) processes, has raised $4m in seed funding.

The company, which leverages AI agents to streamline financial workflows, aims to eliminate manual tasks bogging down AR operations.

The funding round was led by Gradient, Google’s early-stage AI fund, with participation from Y Combinator, Wayfinder, Pioneer Fund, Ritual Capital, Phoenix Fund, and prominent angel investors, including Terrence Rohan, Kulveer Taggar, and Rich Aberman.

Fazeshift specialises in transforming manual AR processes such as invoice creation, payment reconciliation, and overdue payment management into fully automated workflows. Unlike traditional robotic process automation (RPA), Fazeshift employs advanced large language models (LLMs) to navigate complex workflows with greater accuracy and flexibility, catering to the unique needs of enterprise finance teams.

The company plans to use the fresh capital to accelerate product development, expand its AI capabilities, and scale customer acquisition efforts. Fazeshift is already working with large enterprise clients, automating workflows that previously required teams of up to 12 people.

Fazeshift CEO and co-founder Caitlin Leksana said, “We are seeing AI agents that can reason, perform human-like tasks, and do so with the nuance required for these more sensitive business applications. Eventually we’re going to see all tedious and manual back-office tasks be eliminated. The opportunity for transformation in AR is massive, and this funding allows us to accelerate our product development and customer acquisition efforts.”

Gradient managing partner Darian Shirazi added, “The B2B payments stack is being completely reinvented since AI agents have become more mainstream. Finance teams at companies large and small typically struggle with monthly reconciliation and collecting overdue invoices. These finance processes are typically manual and tedious.

“We’re excited to partner with the Fazeshift team as they streamline finance processes while still giving significant customization and visibility to finance operations teams.”