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Accounting hasn’t fully embraced AI yet. Quanta just raised $4.7M to change that | TechCrunch

Feb 27, 2025 - techcrunch.com
AI is making significant inroads into the accounting industry, traditionally known for its manual processes. Venture capitalists are investing in startups like Quanta, which recently raised a $4.7 million seed round led by Accel. Quanta, founded by Helen Hastings, offers an AI-powered accounting platform that automates financial reporting by integrating with fintech tools such as Brex, Mercury, and Stripe. This approach aims to eliminate the need for costly human labor, a challenge that other startups like Bench have faced. Hastings, inspired by her experience at Affirm, is focused on creating an AI-first product to enhance efficiency for financial teams and business leaders.

Quanta's recent funding marks a significant achievement for Hastings as a female founder in a male-dominated field, where only 2% of funding goes to female-only founded companies. With the new capital, Quanta plans to expand beyond early-stage software companies to larger businesses with multiple corporate entities. Hastings is eager for these organizations to demand more from their accounting tools than what current incumbents offer. The article also highlights Charles Rollet, a senior reporter at TechCrunch, known for his investigative work leading to U.S. government sanctions against tech companies.

Key takeaways:

  • Quanta, an AI-powered accounting platform for software companies, raised a $4.7 million seed round led by Accel.
  • Quanta's founder, Helen Hastings, aims to automate accounting processes by integrating with existing fintech tools like Brex, Mercury, or Stripe.
  • The startup plans to expand beyond early-stage software companies to larger businesses with multiple corporate entities.
  • Helen Hastings' success as a female founder is notable in an industry where only 2% of funding goes to female-only founded companies.
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