Wall Street places big money on both sides of the bet for and against accounting firms.
By CPA Trendlines Research
With $1.23 billion invested so far this year, 42 new AI-powered tech companies, from pre-seed startups to growth-stage platforms, are vying for a place at the table where the future of tax and accounting will be decided.
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They’ve captured the serious attention of both the fintech cognoscenti and the tax and accounting avant-garde. Some build the tools that help tax and accounting firms handle more work. Others are taking the other side of the bet, selling tax and accounting services themselves, rolling up firms that do, or selling bookkeeping with no human bookkeepers.
To be sure, the bets are anything but certain.
In May, when Khosla Ventures leads a $10 million seed round for Synthetic, a bookkeeping firm without human bookkeepers, Khosla’s Jon Chu says Synthetic is “tackling a large, valuable problem that will inevitably be solved by AI.”
But Synthetic founder and CEO Ian Crosby admits, “I’m not sure if it’s yet technologically possible to make this work.”
Crosby might know. His other company, Bench, imploded 17 months before Synthetic’s seed round.
Built in France
But Synthetic’s round is small change next to the year’s bigger deals.
Five startups alone — Rillet, Basis, Fonoa, Numeral and Pennylane — account for about $610 million, roughly half of the $1.23 billion in the CPA Trendlines tally. The top ten’s 2026 funding adds up to $916.5 billion.
Tools serving finance teams clock in at about $575 million, or 47% of the funding.
The biggest financing this year came in January, when the French company Pennylane secured €175 million, or about $200 million, after disclosing €40 million in 2024 and €75 million in 2025. TCV led the round, with Blackstone Growth taking part.
The 42 Tech Firms with $1.23 Billion in 2026 Funding
| Rank | Company | Category | What it does | Stage | $ millions |
|---|---|---|---|---|---|
| 1 | Pennylane | Tools for finance teams | Provides accounting production and financial management software shared by firms and clients. | Growth financing | 199.5 |
| 2 | Fonoa | Tools for finance teams | Automates indirect tax calculation, invoicing and reporting; acquired PwC’s Edge platform in May. | Series C | 110 |
| 3 | Basis | Tools for accountants | Prepares tax workbooks, journal entries and reconciliations for accounting firms. | Series B | 100 |
| 3 | Numeral | Tools for finance teams | Automates sales tax compliance with in-house specialists and an accounting-firm partner program. | Series C | 100 |
| 3 | Rillet | Tools for finance teams | Provides general ledger, reporting and close software for finance teams and firm partners. | Series C | 100 |
| 6 | Modus | AI-run firms | Combines audit technology with investments in established accounting firms. | Combined seed and Series A | 85 |
| 7 | Accrual | Tools for accountants | Organizes client documents and prepares draft tax returns for professional review. | Launch funding | 75 |
| 7 | Fieldguide | Tools for auditors | Automates audit and advisory work within firms’ engagements. | Series C | 75 |
| 9 | Andera | Tools for auditors | Automates controls testing, evidence gathering and workpapers for internal and external auditors. | Series A | 37 |
| 10 | Multiplier | AI-run firms | Acquires specialist firms and builds AI tools inside them, retaining local brands and leadership. | Series B | 35 |
| 11 | Onshore | AI-run firms | Combines tax automation with expert oversight and review. | Series B | 31 |
| 12 | Taxwire | Tools for finance teams | Combines sales tax automation with managed compliance services and tax specialists. | Combined seed and Series A | 25 |
| 13 | Stacks | Tools for finance teams | Automates corporate close, journal entries and variance analysis. | Series A | 23 |
| 14 | Circit | Tools for auditors | Connects auditors to independent confirmation and source data. | Growth equity | 22 |
| 15 | Integral | AI-run firms | Delivers accounting, tax and payroll services with AI preparation and licensed professional review. | Series A | 20.5 |
| 16 | Petual | Tools for auditors | Automates SOX testing and internal audit evidence. | Funding announcement (two rounds) | 20 |
| 17 | Zamp | Tools for finance teams | Provides managed sales tax compliance. | New funding | 17 |
| 18 | Inscope | Tools for accountants | Prepares and reviews financial statements for accounting firms and enterprises. | Series A | 14.5 |
| 19 | Cortea | Tools for auditors | Checks audit reports, disclosures and workpapers before auditor sign-off. | Seed | 13.7 |
| 19 | Skalar | AI-run firms | Delivers accounting, payroll, annual accounts and tax services directly to businesses. | Combined pre-seed and seed | 13.7 |
| 21 | Juno | Tools for accountants | Automates tax preparation and review for accounting firms. | Seed | 12 |
| 22 | Synthetic | AI-run firms | Proposes autonomous bookkeeping for software startups; founder questions technological feasibility. | Seed | 10 |
| 23 | Linc | Tools for accountants | Provides payroll software for accounting and payroll firms. | Seed | 9.7 |
| 24 | Repodo | AI-run firms | Builds an audit business with qualified auditors retaining judgment and sign-off. | Pre-seed | 9.3 |
| 25 | neno | AI-run firms | Combines accounting, payroll and tax services with banking integrations and human accounting teams. | Seed | 7.5 |
| 26 | Limetax | AI-run firms | Takes equity stakes in accounting and tax practices and develops AI inside them. | Pre-seed equity | 6.8 |
| 26 | mika | AI-run firms | Combines automated bookkeeping with staff review and licensed partners for individual tax advice. | Seed | 6.8 |
| 28 | Byron | Tools for accountants | Prepares business tax workpapers in firms’ existing Excel and tax software workflows. | Seed | 6.5 |
| 29 | Atlas | Tools for accountants | Builds AI systems and operating infrastructure for independent accounting firms. | Seed | 6 |
| 30 | Benford | AI-run firms | Sells statutory audits with qualified auditors responsible for engagement scope and opinions. | Pre-seed | 5.7 |
| 30 | Taxforce | AI-run firms | Provides tax advisory services to medical practices in Germany. | Seed | 5.7 |
| 32 | Midship | Tools for auditors | Automates controls testing and internal audit; acquired by Optro in May. | Seed | 4.2 |
| 33 | Denki | Tools for auditors | Automates financial audit evidence and controls testing. | Funding disclosure | 4.1 |
| 34 | OCTA | Tools for accountants | Automates bookkeeping, reconciliations and monthly close, with accountant approval. | Seed | 3.5 |
| 35 | Rivage | Tools for accountants | Provides payroll software for accounting firms. | Pre-seed | 3 |
| 36 | autoMEE | Tools for accountants | Automates accounting document workflows for firms and internal finance teams. | Seed | 2.5 |
| 37 | Auditstage | Tools for auditors | Connects audit methodology, evidence and review workflows. | Seed | 2.3 |
| 37 | Computis | AI-run firms | Combines accounting software with internal review and partner accountants handling filings and advice. | Pre-seed | 2.3 |
| 39 | Audrey AI | Tools for auditors | Automates audit evidence gathering and testing for audit firms. | Pre-seed | 1.8 |
| 40 | Dytto | Tools for accountants | Collects client information and automates email and administrative workflows. | Pre-seed | 1.7 |
| 41 | Maxed | Tools for accountants | Automates practice workflows and client communications, with firm approval. | Pre-seed | 0.8 |
| 42 | Jupid | Tools for finance teams | Provides accounting and tax tools for small businesses. | Pre-seed | 0.8 |
Big in France
Pennylane builds its software around French accounting and tax rules. The French tax administration has registered it as an authorized e-invoicing platform since 2024, ahead of the country’s e-invoicing transition this year. Pennylane entered Germany in November 2025 and is adapting the product to German requirements.
In Pennylane’s business model, the company charges accounting firms for accounting production software and generates a second revenue stream from the businesses those firms equip.
Pennylane reports 800,000 businesses on its platform, including 6,000 accounting firms. Founders say collaboration between accountants and their clients drives innovation in Pennylane products.
In the U.S., Fonoa’s $110 million Series C accompanied its May acquisition of PwC’s Indirect Tax Edge platform, covering reporting, filing and tax data alongside Fonoa’s calculation and invoicing tools. Fonoa says PwC would continue delivering indirect tax reporting and consulting through Edge after the sale.
Three-way tie for third place
Basis ties Numeral and Rillet at No. 3 with a $100 million Series B round in February at a $1.15 billion valuation. Accel leads alongside GV.
Basis co-founders Matthew Harpe and Mitchell Troyanovsky are developing software that prepares partnership tax workbooks, creates journal entries and works through reconciliations. Accel’s investment thesis predicts a “Cursor moment” for accounting, drawing an analogy to transformative AI tools in software development.
A Basis-hosted case study at Boyum Barenscheer, a CPA firm in Bloomington, Minnesota, reports that preparation of one payroll journal entry fell from about four hours to 20 minutes.
“I’m reviewing the work instead of building it from scratch,” says Sara Ostrander, Boyum CAS manager for onboarding. The CPA firm began with six client books in February and reportedly expanded within six weeks to nearly all eligible clients in its client accounting services practice.
In another big February launch, Accrual brought in $75 million, led by General Catalyst with Pruven Capital and Edward Jones Ventures participating. Accrual’s platform organizes client documents, asks for missing information and produces draft tax returns for professional review. Armanino, H&R Block and Creative Planning are among the early users.
John Karls, national tax practice leader for private client advisors at Armanino, says the returns reach “manager-review quality.”
More funding rounds
In other funding rounds, Inscope took $14.5 million in a February Series A led by Norwest for financial statement preparation software used by both accounting firms and enterprises.
In April, Juno disclosed $12 million in seed funding led by Bonfire Ventures. Juno CEO Dave Haase operated a tax practice before building the software with Sunny Shah and Jack Flitcroft, according to Bonfire.
And Byron reported a $6.5 million seed round led by Square Peg. Byron co-founder Blaze O’Byrne says: “Accountants don’t have a demand problem, they have a capacity problem.” Square Peg describes agents that prepare source-linked tax work inside existing Excel and tax software workflows, leaving accountants to verify the output.
Audit funding buys review and accountability
Fieldguide announced $75 million in Series C financing in February, led by Goldman Sachs Alternatives’ Growth Equity. Andera disclosed $37 million led by Lightspeed, and Cortea raised €12 million led by Dawn Capital. Those three disclosures totaled about $126 million, before adding Midship, Audrey AI or Modus, an audit technology platform that also invests in accounting firms.
Fieldguide co-founder and CEO Jin Chang is a former CPA, and the company describes its agents as performing repeatable work throughout audit and advisory engagements.
Mark Hinsen, partner-in-charge of audit and assurance at Anders CPA, expects auditors to spend more time on “judgment, review, and client relationships instead of manual execution.”
“Trust is everything”
Cortea targets the completion and review stages of an audit, cross-checking reports, financial statements, disclosures and working papers before sign-off.
“In audit and assurance, trust is everything,” says Larry Bradley, KPMG’s former global head of audit, now an investor in Cortea.
Audrey AI raised $1.8 million in April in pre-seed funding co-led by Sure Valley Ventures and Delta Partners to automate audit evidence gathering and testing. Co-founder Ryan Loughran holds an accounting degree and a Stanford MBA, while co-founder David Burke previously led engineering at document automation company Inscribe.
Midship’s $4.15 million January seed funding was for software for Sarbanes-Oxley controls testing and internal audit. Optro announced its acquisition of Midship in May without disclosing the purchase price.
In audit
The audit group also includes Circit’s $22 million growth equity financing led by Ten Coves Capital, Petual’s $20 million funding announcement for SOX testing, Denki’s $4.1 million and Auditstage’s €2 million seed.
Petual named Andreessen Horowitz, First Round Capital, Cowboy Ventures and Elad Gil as investors.
Circit connects auditors to independent confirmation data. Petual and Denki automate evidence work and controls testing, while Auditstage connects methodology, evidence and review.
Andreessen Horowitz describes Petual as automating audit tasks so internal audit teams can focus on strategic work requiring human judgment.
Corporate finance tools can become firm partners
Rillet’s $100 million Series C, led by ICONIQ, followed $95 million disclosed across two financings in 2025: a $25 million Sequoia-led Series A and a $70 million Series B co-led by Andreessen Horowitz and ICONIQ. CEO Nicolas Kopp previously ran digital bank N26’s U.S. business, and co-founder and CTO Stelios Modes was the technical architect behind the bank’s payment infrastructure, according to Rillet.
Rillet’s partnerships bring accounting firms into its corporate accounting platform. They include Armanino’s outsourced accounting, ERP implementation and technology advisory services, Attivo Partners’ fractional CFO services and Consero’s finance-as-a-service model.
“Implementing an ERP is never just a software exercise,” says Attivo managing partner Greg Capitolo.
Backing both bets
Numeral’s $100 million September Series C, led by Insight Partners, likewise backed both direct business customers and an accounting-firm partner program.
The program allows firms to refer clients, resell the platform, deliver services through it or advise on implementation, while Numeral supplies in-house tax specialists.
Zamp added $17 million in new financing, CEO Rohit Bhadange says. The company describes a sales tax platform used through accounting-firm partners and supervised by in-house tax and legal professionals.
Taxwire’s $25 million combined seed and Series A disclosure describes a managed sales tax platform that combines automation with tax specialists.
Stacks raised $23 million in February for corporate close, journals and variance analysis.
Some investors buy the firm as well as the technology
Multiplier’s $35 million August Series B was led by The General Partnership with Ribbit Capital and Lightspeed participating. The company reported eight acquired firms at the time of the announcement. Founder Noah Pepper previously built Stripe’s Asia-Pacific business, while former Slack CFO Allen Shim joined as president and CFO.
Multiplier says acquired practices retain their brands, leadership and client relationships, with more than 30 technologists building tools around work inside those firms.
An AI answer has no value, Pepper says, “until a professional puts their name on it.”
Modus reported $85 million in combined seed and Series A financing in April, led by Lightspeed Venture Partners with Comma Capital and Garry Tan participating.
The Modus audit technology platform and holding company said the funding would support both technology development and investments in accounting firms. Modus founders include Arush Jain, Pranav Pillai and Vinay Kasat; Jain is CEO.
In August, Thrive Holdings, which falls outside the tally, disclosed more than $2 billion at a $12 billion valuation, with investors including D1 Capital Partners, Altimeter Capital and SoftBank.
Thrive said proceeds would support accounting, IT services and a new infrastructure-services platform, without disclosing an accounting allocation.
Current, formerly Crete Professionals Alliance, is backed by Thrive Holdings.
“We’re arming the rebels,” says Current CEO Steve Stagner.
AI-enabled accounting firms
Germany’s Limetax combined €6 million of pre-seed equity with a €30 million acquisition facility, according to lead investor Motive Partners. Motive describes a business that takes equity stakes in tax and accounting practices and embeds an AI platform into their work.
Taxforce disclosed a €5 million seed led by Tenet in February for an AI-enabled tax advisory firm serving medical practices in Germany.
Onshore, formerly SPRX, announced a $31 million Series B led by FPV Ventures in February. The company describes an AI-powered tax platform that combines intelligent automation with expert oversight, including expert review layers and services such as cost segregation studies.
Integral’s €18 million September Series A, co-led by Mosaic Ventures and LinkedIn co-founder Reid Hoffman, backed a provider combining accounting, tax and payroll with AI development.
Integral assigns production work to AI agents and responsibility for the result to licensed professionals.
Skalar disclosed €12 million in combined pre-seed and seed financing in July, while Benford raised €5 million and Repodo raised €8.2 million to build audit businesses.
Benford says its Norwegian audit entity employs qualified auditors who scope engagements, resolve exceptions and sign opinions.
Repodo similarly employs qualified auditors responsible for judgment and sign-off.
Other bookkeeping models keep a human check
Berlin-based Mika raised €6 million in September and described trained in-house bookkeepers checking results and licensed partner advisers handling individual tax advice outside its in-house offer.
Italy’s Computis raised €2 million in October for a model combining automated processing, internal accounting review and a partner accountant responsible for filings, annual accounts and advice.
Consolidation and closures
Several companies disclosed larger financings in 2026 than in earlier years. Basis went from $34 million in 2024 to $100 million in 2026, while Fieldguide went from $30 million in 2024 to $75 million. Numeral’s $100 million in 2026 compared with $53 million across two 2025 rounds. Rillet’s $100 million was only about 5% above its $95 million 2025 total.
Earlier financing also built competitors outside this year’s tally. Campfire disclosed $100 million across two 2025 rounds, and Numeric disclosed $38 million in 2024 and $51 million in 2025.
The new financings arrived in a market that already included Blue J’s tax research software, DataSnipper’s audit tools, MindBridge’s financial transaction analytics and FloQast’s financial close software. Accrual agreed in September to acquire Puzzle’s accounting-firm technology and business, adding Puzzle’s ledger and month-end close products to its tax platform, while Puzzle continued separately for startups and small businesses. Earlier bookkeeping businesses offered a cautionary comparison: Botkeeper, which raised nearly $90 million, announced its closure in February 2026, while Bench, which raised more than $100 million, shut down in December 2024 before an acquisition was announced three days later.
Capital is moving faster than firmwide integration
In Inside Public Accounting’s 2026 IT Survey, nearly three-quarters of participating firms reported purchasing software for AI functionality, but only 3.2% said AI was fully integrated into their operations. Nearly 43% reported no measurable impact yet, and almost eight in 10 reported no noticeable effect on staffing or hiring.
CPA Trendlines contributor Donny Shimamoto, who helped develop the survey’s AI questions, distinguishes individual productivity gains from redesigning an engagement or service line in discussing the findings. His shorthand for experiments without a defined destination is: “Wandering costs money.”
CPA.com identifies trust, validation and staff training as barriers to firmwide use, drawing on a webinar with Pascal Finette, an AI futurist who collaborates on CPA.com’s AI initiative. CPA.com also raises the question of how junior accountants learn judgment when AI performs basic processes, data entry and documentation.