Fazeshift Secures $4M Seed Funding to Revolutionize Accounts Receivable with AI

Fazeshift Secures $4MM Seed Round Led by Gradient to Automate Accounts Receivable with AI

Fazeshift looks to streamline and automate manual processes with AI agents SAN FRANCISCO-(BUSINESS WIRE)-January 7, 2025- Fazeshift, an AI agent for Accounts Receivable, raised $4M in seed funding led by Gradient, Google's early-stage AI fund. The round also included investment from Y Combinator, Wayfinder, Pioneer Fund, Ritual Capital, Phoenix Fund, and prominent angels including Terrence Rohan, Kulveer Taggar, and Rich Aberman. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250107180091/en/ Enterprises waste over $200 billion annually managing accounts receivable (AR), bogged down by manual tasks like reconciling payments, generating invoices, and chasing overdue accounts. Fazeshift streamlines this process by automating everything from invoice creation to payment reconciliation, freeing teams from hours of manual work. Unlike traditional robotic process automation (RPA), which struggles to understand the nuances of AR, Fazeshift's LLM-powered approach handles complex workflows with ease. Fazeshift's use of highly specialized LLM prompts tuned to each specific task, allows it to achieve the accuracy and flexibility required for enterprise-grade operations. "We are seeing AI agents that can reason, perform human-like tasks, and do so with the nuance required for these more sensitive business applications. Eventually we're going to see all tedious and manual back-office tasks be eliminated. The opportunity for transformation in AR is massive, and this funding allows us to accelerate our product development and customer acquisition efforts," said Caitlin Leksana, CEO and Co-Founder of Fazeshift. Fazeshift's AI agents don't just answer questions - they can handle complex billing workflows, send customer emails, and even update accounting records. They do this by manipulating the same software tools that human teams previously used. Fazeshift has proven that AI agents can penetrate even the most sensitive business processes. "The B2B payments stack is being completely reinvented since AI agents have become more mainstream. Finance teams at companies large and small typically struggle with monthly reconciliation and collecting overdue invoices. These finance processes are typically manual and tedious," said Darian Shirazi, Managing Partner at Gradient. "We're excited to partner with the Fazeshift team as they streamline finance processes while still giving significant customization and visibility to finance operations teams." Fazeshift is already working with several large enterprise customers and automating workflows that previously required teams of 12 people. As the AR space becomes increasingly complex, Fazeshift is positioning itself as the go-to solution for enterprises looking to streamline their AR process. About Fazeshift Fazeshift is an AI agent for Accounts Receivable. With Fazeshift, companies can automate their entire accounts receivable process across their existing tools, helping them save time and money, while improving cash flow. Fazeshift is backed by leading investors including Y Combinator and Gradient, Google's early-stage AI fund. For more information, visit https://fazeshift.com. About Gradient Gradient has been investing at the forefront of artificial intelligence since 2017. We are led by former founders, technical experts, and domain specialists who have supported hundreds of AI founders from the beginning. Gradient is headquartered in San Francisco. For more information, visit www.gradient.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250107180091/en/

Fazeshift secures $4MM Seed Round Led by Gradient to Automate Accounts Receivable with AI

Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter Fazeshift looks to streamline and automate manual processes with AI agents SAN FRANCISCO, Jan. 7, 2025 /PRNewswire/ -- Fazeshift, an AI agent for Accounts Receivable, raised $4M in seed funding led by Gradient, Google's early-stage AI fund. The round also included investment from Y Combinator, Wayfinder, Pioneer Fund, Ritual Capital, Phoenix Fund, and prominent angels including Terrence Rohan, Kulveer Taggar, and Rich Aberman. Fazeshift secures $4MM Seed Round Led by Gradient to Automate Accounts Receivable with AI Enterprises waste over $200 billion annually managing accounts receivable (AR), bogged down by manual tasks like reconciling payments, generating invoices, and chasing overdue accounts. Fazeshift streamlines this process by automating everything from invoice creation to payment reconciliation, freeing teams from hours of manual work. Unlike traditional robotic process automation (RPA), which struggles to understand the nuances of AR, Fazeshift's LLM-powered approach handles complex workflows with ease. Fazeshift's use of highly specialized LLM prompts tuned to each specific task, allows it to achieve the accuracy and flexibility required for enterprise-grade operations. "We are seeing AI agents that can reason, perform human-like tasks, and do so with the nuance required for these more sensitive business applications. Eventually we're going to see all tedious and manual back-office tasks be eliminated. The opportunity for transformation in AR is massive, and this funding allows us to accelerate our product development and customer acquisition efforts," said Caitlin Leksana, CEO and Co-Founder of Fazeshift. Fazeshift's AI agents don't just answer questions - they can handle complex billing workflows, send customer emails, and even update accounting records. They do this by manipulating the same software tools that human teams previously used. Fazeshift has proven that AI agents can penetrate even the most sensitive business processes. "The B2B payments stack is being completely reinvented since AI agents have become more mainstream. Finance teams at companies large and small typically struggle with monthly reconciliation and collecting overdue invoices. These finance processes are typically manual and tedious," said Darian Shirazi, Managing Partner at Gradient. "We're excited to partner with the Fazeshift team as they streamline finance processes while still giving significant customization and visibility to finance operations teams." Fazeshift is already working with several large enterprise customers and automating workflows that previously required teams of 12 people. As the AR space becomes increasingly complex, Fazeshift is positioning itself as the go-to solution for enterprises looking to streamline their AR process. About Fazeshift Fazeshift is an AI agent for Accounts Receivable. With Fazeshift, companies can automate their entire accounts receivable process across their existing tools, helping them save time and money, while improving cash flow. Fazeshift is backed by leading investors including Y Combinator and Gradient, Google's early-stage AI fund. For more information, visit https://fazeshift.com. About Gradient Gradient has been investing at the forefront of artificial intelligence since 2017. We are led by former founders, technical experts, and domain specialists who have supported hundreds of AI founders from the beginning. Gradient is headquartered in San Francisco. For more information, visit www.gradient.com. View original content to download multimedia:https://www.prnewswire.com/news-releases/fazeshift-secures-4mm-seed-round-led-by-gradient-to-automate-accounts-receivable-with-ai-302342416.html SOURCE Fazeshift Market News and Data brought to you by Benzinga APIs

Google Helps AI Agent Fazeshift Raise $4 Million in Seed Funding | PYMNTS.com

Fazeshift, an accounts receivable-focused artificial intelligence (AI) agent, has raised $4 million in seed funding. The funding round, announced Tuesday (Jan. 7), was led by Google's early-stage AI fund Gradient, with support from Y Combinator, Wayfinder, Pioneer Fund, Ritual Capital, Phoenix Fund and angel investors including Terrence Rohan, Kulveer Taggar, and Rich Aberman. "Enterprises waste over $200 billion annually managing accounts receivable (AR), bogged down by manual tasks like reconciling payments, generating invoices, and chasing overdue accounts," the company said in a news release. "Fazeshift streamlines this process by automating everything from invoice creation to payment reconciliation, freeing teams from hours of manual work." Unlike traditional robotic process automation (RPA), which struggles to grasp the nuances of AR, Fazeshift's LLM-powered approach can handle complex workflows, per the release. Using highly specialized LLM prompts tuned to each specific task, Fazeshift can deliver the accuracy and flexibility that enterprise-grade operations need, the release added. According to the release, Fazeshift is working with a number of large enterprise customers and automating workflows that once needed 12-member teams. "We are seeing AI agents that can reason, perform human-like tasks, and do so with the nuance required for these more sensitive business applications," Fazeshift Co-founder and CEO Caitlin Leksana said in the funding announcement. "Eventually we're going to see all tedious and manual back-office tasks be eliminated. The opportunity for transformation in AR is massive, and this funding allows us to accelerate our product development and customer acquisition efforts." This is in keeping with what experts have told PYMNTS: that AI agents have moved beyond basic chatbots to make complex operational decisions at major companies. "While traditional AI approaches have centered around assistance, the ability for AI agents to reason, decide and take action will amplify results," Archana Kannan, senior vice president of product for work messaging app Slack, told PYMNTS in November. "Ultimately, agents are going to transform how every user gets their job done, particularly the mundane, common tasks like automating projects, new hire onboarding, generating content or managing IT incidents." PYMNTS wrote more recently that AI agents were part of the retail industry's larger embrace of artificial intelligence last year, with companies such as Skyfire Systems launching payment networks specifically for AI agents, letting them conduct transactions without human involvement. "These agents acted as decision-makers, analyzing vast datasets in real time to adjust inventory levels, optimize delivery routes or recommend products," that report said.