Fazeshift Scores $17 million As Investors Bet On AI-Powered Finance Ops, Starting With Accounts Receivable
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Fazeshift, a startup that uses AI agents to automate accounts receivable, has raised $17 million in a Series A round of funding, it tells Crunchbase News exclusively.
Key facts
That’s a more than 29% increase from 2024’s total of $41.6 billion raised
The San Francisco company was founded by a team with an unconventional pedigree: Caitlin Leksana (CEO), a former BCG consultant and mechanical engineer and Timmy Galvin (CTO), an MIT-trained nuclear
Fazeshift, a startup that uses AI agents to automate accounts receivable, has raised $17 million in a Series A round of funding, it tells Crunchbase News exclusively
After launching at the start of the Summer 2024 Y Combinator cohort, Fazeshift has seen its revenue grow 12x in a single year, attracting dozens of enterprise customers, including eight unicorns
Summary
F-Prime Capital led the financing, which included participation from Gradient Ventures (Google’s early-stage AI fund), Y Combinator, Wayfinder Ventures, Pioneer Fund, Ritual Capital and several angel investors. The San Francisco company was founded by a team with an unconventional pedigree: Caitlin Leksana (CEO), a former BCG consultant and mechanical engineer and Timmy Galvin (CTO), an MIT-trained nuclear submarine officer. The two met at Harvard Business School, but their lightbulb moment came while running a previous startup, Carma, where they found themselves color-coding spreadsheets to track payments for 10 customers and realized that the tools they were using failed to solve the basic problem of ensuring money hits the bank.