Basis raises $100m Series B at a $1.15bn valuation to expand its AI agent platform for accountants.
The round was led by Accel, with participation from GV (Google Ventures) and Lloyd Blankfein. Existing backers Khosla Ventures and others also doubled down on their investment.
Additional investors include NFDG, Better Tomorrow Ventures, BoxGroup, Avid Ventures, and a number of prominent technology executives including Jeff Dean, chief scientist at Google, Jeff Wilke, former CEO of Amazon Consumer, and Adam D’Angelo, CEO of Quora and board member at OpenAI, among others. Accel’s Miles Clements will join Khosla Ventures’ Keith Rabois on the company’s board.
The funding comes as the accounting industry faces mounting pressure from a prolonged talent shortage and rising client expectations. Basis says firms are experiencing margin pressure, staff burnout, and are being forced to turn away work as a result. The company is currently working with approximately 30% of the top 25 accounting firms, deploying AI agents that complete complex workflows end-to-end across their CAS, tax, and audit practices.
The platform takes a “long-horizon” approach to AI agents, similar to popular AI coding platforms, enabling agents to autonomously work through complex accounting workflows over extended periods.
The company recently demonstrated what it describes as the first AI agent to autonomously complete an end-to-end 1065 tax return.
The proceeds will be used to accelerate platform development and expand the company’s engineering and machine learning teams.
Accel partner Miles Clements said, “What stands out about Basis is how deeply they think about architecting and deploying real agents that do real work in the real economy.
“Across multiple investments at the frontier of AI, we’ve seen the same pattern again and again: teams that get the fundamentals right tend to pull away quickly. Basis is years ahead in accounting AI, and we believe it has what it takes to define this category as it matures.”
Basis CEO and co-founder Matt Harpe said, “Our sole focus is to equip accountants with the highest performing, most accurate AI for accounting and to empower firms to drive new growth, provide higher-value service, and improve accountant quality of life across every one of their practices.”
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