Maxima, the agentic AI platform focused on accounting automation, has raised $41m across its Seed and Series A rounds.
The investment came from Redpoint Ventures, Kleiner Perkins and Audacious Ventures, alongside participation from finance and technology leaders including former BlackLine CMO and chief strategy officer Andres Botero, former BlackLine SVP of operations Eric Borrmann, Rubrik CFO Kiran Choudary, Vanta CFO David Eckstein, and Super Bowl champion and Liquid 2 managing partner Joe Montana.
The company, which aims to redefine month-end close processes, uses AI agents to co-prepare financial reports with accounting teams to improve accuracy, consistency and auditability.
The funding comes as accounting teams face growing strain. Although decades of software upgrades have promised efficiency, accounting remains highly manual and error-prone. In the first ten months of 2024, 140 U.S. public companies were forced to restate their financials due to errors — the highest figure in nearly ten years. With organisations relying on disconnected data sources, month-end close has become increasingly complex, while headcount expansion has done little to resolve delays, burnout and mistakes.
Maxima aims to tackle these issues by automating reconciliation, journal entries and workflow preparation. This allows accounting teams to focus on reviewing and validating results, instead of handling repetitive tasks. The company’s co-founder and CEO, Yogi Goel, brings twenty years of experience across EY, Citigroup, Barclays and Rubrik, where he observed persistent accounting challenges even at sophisticated finance organisations.
The platform embeds specialised AI agents throughout the close lifecycle. These agents gather and structure data, convert it into accounting entries, apply internal policies, perform reconciliations and highlight anomalies with automated explanations. Operating as an intelligence layer above existing ERPs, Maxima has reported up to 80% faster closes, 95% automation of manual work and full auditability for customers including Scale AI, SpotOn and Rippling.
Additional capabilities include preparing work ahead of time so accountants can log in to find validated, documented entries ready for approval. This approach differs from legacy systems that simply track tasks but leave significant manual workloads untouched. Maxima’s founding team — drawing from previous roles at Meta, Twitter and Netflix — witnessed these inefficiencies repeatedly and sought to build a purpose-designed solution.
“I’ve seen too many talented accountants pushed to their limits — working 16- to 20-hour days for weeks on end just to get the books closed,” said Goel. “Accountants are drowning in repetitive, manual work that leaves little time for the judgment, analysis, and strategy their companies actually rely on them for. Maxima’s goal is to change that dynamic by giving accounting teams intelligent systems that can take on the heavy lifting while maintaining accuracy, transparency, and control.”
“Maxima has significantly reduced our manual burden, especially for accountants managing general ledger accounting across multiple bank accounts and entities,” said Rippling controller Vipin Sethi. “What used to be repetitive, low-value work is now automated, freeing our team to focus on deeper reconciliations, analytical reviews, and cross-functional insights — helping even our junior staff develop a stronger understanding of our financials through more meaningful, high-impact work.”
“The complexity of accounting operations has outgrown human capacity,” said Redpoint Ventures managing director Satish Dharmaraj. “AI can now take on the heavy lifting for accountants in ways that simply weren’t possible before, and we’re deeply confident in Yogi and the Maxima team’s ability to lead this shift. They combine rare domain depth in accounting and finance with the technical rigor needed to build enterprise systems that are both scalable and trustworthy.”
“As businesses generate more financial data across more systems, the surface area for errors and delays has exploded,” said Kleiner Perkins principal Aditya Naganath. “There is a need for AI that can autonomously prepare, reconcile, and validate financials at scale, and we believe Maxima can set a new standard for accuracy and auditability in the AI era.”
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