Auditoria.ai, an AI-driven automation solutions provider for accounting and corporate finance teams, has successfully completed a $15.5m series A funding round.
The round was led by Venrock, with additional participation coming from Workday Ventures, as well as existing investors such as B Capital Group, Engineering Capital, Firebolt Ventures, and Neotribe Ventures.
Auditoria has now raised over $22m in funds since its inception, which will be used to accelerate innovation in AI, machine learning, natural language processing, and data science.
Rohit Gupta, co-founder and CEO at Auditoria, said: “As the industry’s first ERP-centric cognitive automation platform, we are powering the next generation of intelligent automation for global finance teams
“This new round of funding furthers our mission of transforming the corporate finance back office and accelerates the reality of the zero-touch self-driving back office.”
He added that the group’s finance innovations can “drive greater efficiencies for CFOs and finance teams”.
A year after its formation, Auditoria’s smartflow skills offering is now used by over 200 businesses.
Moreover, it has secured a number of high profile partnerships, including with Armanino, AST, MCS Group, RSM US, BrainSell and Wipro.
Ray Wang, founder and CEO at Constellation Research, said: “The industry is ripe for change, and companies on the front lines of creating the self-driving, autonomous organization of the future are taking both mindshare and market share.
“I advise any forward-looking CFO to consider these types of solutions as their technology of choice to transform their corporate finance function and catapult their back office into the autonomous future.”