AI Accounting Startup Basis Secures $100M Series B Funding

NEW YORK: AI accounting platform Basis raises $100 million in Series B funding at a $1.15 billion valuation, achieving unicorn status less than three years after its 2023 founding. Accel leads the round with participation from GV and former Goldman Sachs CEO Lloyd Blankfein.

The startup builds autonomous AI agents that complete complex accounting workflows end-to-end across tax preparation, audit procedures and client accounting services. Basis deploys what it calls long-horizon agents that work independently for hours on tasks like partnership tax returns and financial statement preparation.

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The platform already serves approximately 30 percent of the top 25 accounting firms in the United States. These firms use Basis agents to handle document review, reconciliation and compliance work that previously consumed significant staff time.

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“Basis is already radically changing how work gets done at the best firms, driving 20-50% efficiencies across practices,” Vinod Khosla of Khosla Ventures said in a statement announcing the round.

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The funding arrives as accounting firms face mounting pressure from talent shortages and rising client demands. Organizations now contend with an average of 135 new vulnerabilities daily while staffing challenges intensify across the profession.

Basis plans to use the capital to expand its customer base and deepen capabilities in tax and audit functions. The company will grow its machine learning and engineering teams to support increasing enterprise demand for AI-powered accounting automation.