Basis, an innovative artificial intelligence agent platform for accountants, has secured $100 million in its latest funding round, achieving a $1.15 billion valuation. Established in 2023, the startup focuses on automating accounting workflows in tax, audit, and advisory functions through its agent-based architecture. The platform leverages large language models alongside domain-specific accounting logic to tackle labor-intensive tasks like document review and tax preparation, addressing staffing issues and compliance challenges.
Basis efficiently processes structured and unstructured data from diverse sources, automating financial analysis while ensuring human oversight for review and approval. Key features include tax return preparation, audit testing, and data extraction, making it a valuable resource for firms. With notable clients like Boulay PLLP and Clark Nuber PS, the platform currently serves around 30% of the Top 25 accounting firms. The funding, led by Accel Partners and Google Ventures, enhances Basis’s mission to enhance accountant productivity and service quality.
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