AI accounting startup Basis raises $100 million at $1.15 billion valuation

By Pragyan Kalita

Feb 24 (Reuters) - AI accounting startup Basis has raised $100 million in a Series B round valuing the company at $1.15 billion, as investors pour money into agentic AI systems designed to operate autonomously on complex tasks.

The round was led by venture capital firm Accel, with participation from GV, formerly known as Google Ventures, former Goldman Sachs Chief Executive Lloyd Blankfein and existing investor Khosla Ventures.

Basis runs an AI agent platform for accountants and says its systems learn client-specific needs and work independently across multi-step accounting tasks. The company said it now serves about seven of the top 25 accounting firms in the U.S.

Venture funding for artificial intelligence-linked firms has climbed sharply in recent years, with AI startups capturing a growing share of global deal value as investors bet the technology will transform industries worldwide.

Agentic AI, which can plan, decide and act autonomously rather than simply respond to a prompt, has become one of the most sought-after categories in venture capital as investors focus on professional services.

"Agent-native operations are pushing startups toward higher output per employee, and in some cases smaller teams; the cost impact can be significant early on and could, at scale, mean more competitive market dynamics," Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors told Reuters.

Basis said its platform addresses a longstanding talent shortage in the accounting industry, which has struggled to attract and retain qualified professionals in recent years.