NEW YORK – During a week packed with big AI checks, accounting-focused generative AI startup Basis announced a $100 million Series B. The round values the company at $1.15 billion, putting it among the largest equity raises for a generative AI specialist this week. Basis shared the news on February 24. The deal highlights a fast-growing push toward agentic AI, where software agents run full workflows instead of just assisting.
Accel led the round. GV (formerly Google Ventures) joined in, along with former Goldman Sachs CEO Lloyd Blankfein and existing backer Khosla Ventures. Together, the group signaled rising confidence that AI can change how professional services get done.
Basis was launched in 2023, founded by Matthew Harpe and Mitchell Troyanovsky. The company builds an AI agent platform for accountants. Its system deploys groups of specialized agents that understand accounting rules, adjust to each client, and take action. For example, the agents can prepare tax returns, support audits, and handle compliance work.
Progress Toward End-to-End AI Workflows
In the announcement, Basis pointed to a major milestone. The company says it has shown the first AI system that can complete an end-to-end tax return on its own. That shift moves AI beyond a helpful copilot and into the role of workflow owner across accounting, tax, and audit tasks.
Basis also reported early momentum in the market. About 30% of the top 25 accounting firms are already using the platform, according to the company. That pace suggests agent-based systems are gaining acceptance in an industry known for human review and manual processes.
The founders said accounting is one of the first major areas where agents will become core to knowledge work. Next, the company plans to use the new funding to build more capable agents for tougher workflows. It also plans to grow its engineering and machine learning teams.
Big Investors Back Vertical AI Agents
The backers reflect interest in AI that serves one profession well, rather than trying to do everything. Accel partner Miles Clements and Khosla Ventures’ Keith Rabois will join the board. Both have long histories of scaling enterprise software and investing in frontier tech.
Other participants include NFDG (Meta-owned), Better Tomorrow Ventures, BoxGroup, Avid Ventures, and angels from teams at Google, Amazon, OpenAI, Stripe, and Hugging Face. With this Series B, Basis says total funding now stands at $138 million. That includes a $34 million Series A in late 2024 led by Khosla Ventures.
The round also fits a broader pattern. Investors are chasing agentic systems that can show clear ROI in regulated areas like finance. Basis focuses on common accounting pain points, including time-heavy compliance work, error-prone data handling, and staffing gaps. As a result, the product is positioned for faster adoption inside firms that need scale and consistency.
Where Basis Fits in the Week’s GenAI Funding Rush
Basis’s $100 million raise stands out among the week’s generative AI deals, even as bigger infrastructure rounds grabbed attention. In many cases, equity funding is flowing toward specialized apps instead of new foundation models.
- OpenAI’s massive raise: OpenAI brought in $110 billion at a $730 billion pre-money valuation (and $840 billion post-money). The round included $50 billion from Amazon, $30 billion from SoftBank, and $30 billion from Nvidia. The funding targets compute growth and model work, and it dwarfs most other deals.
- Other major AI funding news: Robot data company Encord raised $60 million in a Series C to support training pipelines for physical AI. Autonomous trucking company Einride closed a $113 million PIPE ahead of a possible SPAC. Other startups across embodied AI, compliance, and code generation also pulled in capital, including Jump’s $80 million Series B.
Industry trackers such as Crunchbase place Basis among the top non-infrastructure generative AI equity rounds in the recent mix. At the same time, agentic AI for professional services is emerging as a key battleground. It also faces pressure from incumbents, including RSM US, which launched its own genAI tool, “Ask Luca,” for audit research.
What the Shift Says About the GenAI Market
The funding pattern points to a market that’s starting to mature in 2026:
- From copilots to agents: Early genAI products helped people work faster. Now, agent platforms can run whole processes, lowering costs and improving accuracy in areas like accounting.
- Faster enterprise adoption: With reported use in 30% of the top 25 firms, Basis shows how focused tools can win buyers quickly.
- A compliance advantage: Auditable workflows matter in tax and audit. Agents can follow steps that teams can review and document.
- Signals from market trackers:
- Vertical AI in finance, legal, and healthcare is drawing large rounds as ROI becomes easier to prove.
- Infrastructure deals (like OpenAI’s) dominate headlines, but app-layer startups like Basis can have quicker paths to revenue.
Other areas gaining attention include embodied AI for robotics, sovereign AI clouds, and behavioral prediction models.</
Analysts see Basis as one example of where the category is heading.
Accounting firms face staffing shortages and rising compliance demands. In that environment, AI agents can add capacity without adding headcount. A $1.15 billion Series B valuation, which is still rare for a vertical company, shows how strongly investors view the shift toward agent-run work.
With new capital in place, Basis plans to improve agent intelligence and expand into advisory and broader finance workflows. As generative AI moves from trials to daily operations, companies like Basis show how targeted products can create real value. In a week filled with blockbuster AI rounds, Basis’s $100 million Series B reinforces that focused applications can still reach unicorn status and move markets.
