Finance leaders face reconciliations, slow closes, and constant data juggling. To solve this, Perplexity CEO Aravind Srinivas invested in Maximor, a startup that claims to have cut one customer's month-end close in half.
Maximor on Monday announced a $9 million seed round to expand its AI platform and help finance teams move from manual processes to strategic work.
Co-founders Ramnandan Krishnamurthy and Ajay Krishna Amudan at Microsoft (NASDAQ:MSFT) witnessed organizations revert to spreadsheets despite investments in enterprise resource planning tools.
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Perplexity CEO Aravind Srinivas Backs Finance Automation Play
Maximor said it raised the funding to scale its AI-driven finance automation platform. The funding round was led by Foundation Capital, with participation from Gaia Ventures and Boldcap.
Maximor's platform connects to ERPs like NetSuite and Intacct, payroll, billing, customer relationship management, software-as-a-service data, and banking systems to automate repetitive accounting work while producing audit-ready outputs.
The company said that the system helps deliver cleaner audits and faster closes, lowering compliance and valuation risk, while giving finance leaders unified visibility across financial and operational data. Its proprietary Audit-Ready Agent architecture causes its agents to generate workpapers, reviewer notes, and audit trails by default.
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Why 75% of Accountants Retiring by 2030 Makes This $9M Round Critical
Finance departments face a talent crisis that will change corporate accounting within five years, according to Maximor. The startup said three-quarters of accountants are expected to retire by 2030, while fewer graduates enter the field. Companies are stretched thin, raising the odds of costly errors and audit delays.
Finance teams using Maximor report roughly 40% more capacity for strategic work, according to the company.
Proptech company Rently cut its month-end close from eight days to four within the first month of using Maximor. The company avoided two additional accounting hires for repetitive work. "With Maximor, our team delivers reliable, audit-ready outputs efficiently while freeing up nearly 50% of our capacity for strategic work," Rently Chief Financial Officer Dustin Neal said in the Maximor statement.
Multi-billion-dollar registered investment advisor Invst automated reconciliations, allocations, and reporting, unlocking advisor-level profitability insights that were previously impractical, according to Maximor.
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Legacy Systems Don’t Talk to Each Other But Here’s How Maximor Solves It
Maximor is among a wave of startups offering AI tools for finance teams dealing with legacy systems that don't talk to each other, according to Forbes.
"What attracted us to Maximor is their seamless integration to any ERP system. Instead of chasing features like many ERP startups, Maximor uses AI to tackle real challenges faced by finance leaders at global companies," Foundation Capital General Partner Ashu Garg said in the Maximor statement. "Maximor has built a unified platform where specialized AI agents work together seamlessly."
According to Gartner, 33% of enterprise software applications will include agentic AI by 2028, up from less than 1% in 2024.
Maximor plans to push further into deeper automation of accounting flows, vertical modules tailored to industry sectors, and strategic finance insights that shift teams from reactive reporting to proactive planning.
The company claims it measures success by customer outcomes rather than seats sold. "Our job is to automate the mechanics and unify the data so finance leaders can spend time guiding the business," Maximor CEO Krishnamurthy said in the statement.
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