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Let there be Light! Danish startup exits stealth with $13M seed funding to bring AI to general ledgers | TechCrunch

Jun 12, 2024 - techcrunch.com
Danish startup Light has raised $13 million in a seed funding round led by Atomico to disrupt the CFO tech stack. The company aims to modernize general ledger software with AI capabilities, allowing finance teams to ask questions and receive answers in plain English. Light's platform integrates with various CRM and HRM tools, banks, and communication channels, and uses AI models to handle tasks such as line-item coding and bookkeeping.

Light's focus is on unbundling the ERP, targeting multi-entity international companies with a unified dashboard for global transactions. The company aims to offer a more efficient and user-friendly alternative to established ERP systems like Oracle NetSuite, SAP ERP, and Microsoft Dynamics. The platform is already live and available globally, with most of its current customers based in the Nordics.

Key takeaways:

  • Light, a Danish startup, has raised $13 million in a seed round led by Atomico to disrupt the CFO tech stack, specifically the general ledger software.
  • The company uses AI to cleanse transactional data and allows finance teams to ask and receive answers to plain-English questions about their data.
  • Light integrates with various CRM and HRM tools, banks, and communication channels, and uses AI models to handle manual tasks such as line-item coding and bookkeeping tasks.
  • Light is targeting multi-entity international companies with a unified dashboard for all their global transactions, fully searchable and queryable using AI.
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