Basis, an AI startup, has raised $34 million in a Series A funding round for its AI-powered accounting automation product on Dec. 17, according to the company’s statement.
The round was led by Khosla Ventures as well as OpenAI board members Larry Summers and Adam D’Angelo. Typically, AI startups like Basis AI build platforms and models that leverage deep learning, natural language processing, and other advanced techniques to create customized solutions for industries such as finance, healthcare, logistics, and marketing. These solutions can help businesses enhance efficiency, improve customer experiences, and gain insights from large datasets.
READ: Khosla Ventures-backed Speak raises $78 million in Series C to advance AI-driven language learning (December 16, 2024)
Executives in the field such as OpenAI CFO Sarah Friar have said that these systems are poised to take center stage in the AI agenda next year, as recent advancements have enabled models to execute long-term planning.
Large accounting firms like Wiss, which employs 450 accountants, have seen up to 30% in time reduction from using Basis, the company’s CEO Matt Harpe told Reuters.
The product, which functions like a junior accountant, allows staff accountants to spend their time reviewing the AI agent’s work, rather than doing the work manually, said Harpe. A successful funding round like this indicates a significant step in their growth, enabling them to enhance their AI systems, expand their team, or scale their technology.
Source: The American Bazaar
#healthcarestartup #startupfunding #dseide
The round was led by Khosla Ventures as well as OpenAI board members Larry Summers and Adam D’Angelo. Typically, AI startups like Basis AI build platforms and models that leverage deep learning, natural language processing, and other advanced techniques to create customized solutions for industries such as finance, healthcare, logistics, and marketing. These solutions can help businesses enhance efficiency, improve customer experiences, and gain insights from large datasets.
READ: Khosla Ventures-backed Speak raises $78 million in Series C to advance AI-driven language learning (December 16, 2024)
Executives in the field such as OpenAI CFO Sarah Friar have said that these systems are poised to take center stage in the AI agenda next year, as recent advancements have enabled models to execute long-term planning.
Large accounting firms like Wiss, which employs 450 accountants, have seen up to 30% in time reduction from using Basis, the company’s CEO Matt Harpe told Reuters.
The product, which functions like a junior accountant, allows staff accountants to spend their time reviewing the AI agent’s work, rather than doing the work manually, said Harpe. A successful funding round like this indicates a significant step in their growth, enabling them to enhance their AI systems, expand their team, or scale their technology.
Source: The American Bazaar
#healthcarestartup #startupfunding #dseide
Basis, an AI startup, has raised $34 million in a Series A funding round for its AI-powered accounting automation product on Dec. 17, according to the company’s statement.
The round was led by Khosla Ventures as well as OpenAI board members Larry Summers and Adam D’Angelo. Typically, AI startups like Basis AI build platforms and models that leverage deep learning, natural language processing, and other advanced techniques to create customized solutions for industries such as finance, healthcare, logistics, and marketing. These solutions can help businesses enhance efficiency, improve customer experiences, and gain insights from large datasets.
READ: Khosla Ventures-backed Speak raises $78 million in Series C to advance AI-driven language learning (December 16, 2024)
Executives in the field such as OpenAI CFO Sarah Friar have said that these systems are poised to take center stage in the AI agenda next year, as recent advancements have enabled models to execute long-term planning.
Large accounting firms like Wiss, which employs 450 accountants, have seen up to 30% in time reduction from using Basis, the company’s CEO Matt Harpe told Reuters.
The product, which functions like a junior accountant, allows staff accountants to spend their time reviewing the AI agent’s work, rather than doing the work manually, said Harpe. A successful funding round like this indicates a significant step in their growth, enabling them to enhance their AI systems, expand their team, or scale their technology.
Source: The American Bazaar
#healthcarestartup #startupfunding #dseide
