Materia, a NYC-based comprehensive generative AI platform built specifically for public accounting firms, raised $6.3M in funding.
The round was led by Spark Capital with participation from Haystack Ventures, Thomson Reuters Ventures, Exponential Founders Capital, and the Allen Institute for AI.
The company intends to use the funds to expand operations and its development efforts.
Founded by Kevin Merlini (CEO), and Lucas Adams (CTO), Materia is a provider of a comprehensive generative AI platform for public accounting firms. It is built on a proprietary library of authoritative accounting content, integrated with firm knowledge, and key industry software. The platform offers a suite of pre-built capabilities to improve efficiency and quality for all levels of accounting staff across a variety of workflows while keeping security and accuracy.
Materia’s AI platform consolidates firms’ internal knowledge into a secure Knowledge Hub, creating an organized enterprise search layer that bridges engagement data silos. The Materia AI Assistant and Document Analysis Workspace leverage this Hub to deliver reliable answers based on proprietary knowledge and authoritative accounting standards. Together, these components empower Materia to accelerate test work and support complex decision-making with specialized AI agents.
FinSMEs
20/06/2024