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Stock impact report

AI accounting startup Maxima raises $41 million in Kleiner Perkins-backed round [Yahoo! Finance]

BlackLine, Inc. (BL) 
NASDAQ:AMEX Investor Relations: investors.blackline.com
Company Research Source: Yahoo! Finance
and Kleiner Perkins ?as it looks to automate accounting for businesses, the company said ?on Tuesday. The $143 million valuation after Seed and Series A funding for the one-year-old San ?Mateo, California-based startup shows strong investor demand for firms building AI-driven enterprise software. The fundraise was joined by Audacious Ventures and Joe Montana, NFL Super Bowl Champion and Liquid 2 Managing Partner, among others. Maxima argues its AI platform can ?better automate tasks such as ?reconciliation and journal entry than dominant legacy providers such as SAP and Blackline, and thus save costs as well as time. "?They (legacy providers) had the central assumption humans will do the work and they log the work for auditors to come check the work. We are completely starting ?this from scratch where we are saying agents will do the work and ?humans will review it," Maxima co-founder and CEO Yogi Goel told Reuters. There have been questions about the real-world usefulness o Show less Read more
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