Quanta 100x's Accountants with AI-Powered Innovation; Secures $4.7M in Funding Led by Accel to Alleviate Pain of Legacy Solutions
Quanta, an AI-powered accounting company, has announced the general availability of its platform. The platform boasts a self-serve onboarding process that is significantly faster than other solutions. Quanta has secured $4.7m in seed funding from investors such as Accel, basecase, and Comma Capital. The company aims to eliminate non-creative accounting work, offering businesses real-time financial clarity. This will allow businesses to make timely decisions based on current and complete data.
SAN FRANCISCO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Quanta , the next-generation accounting company
Quanta, the next-generation accounting company powered by AI, today announced the general availability of its platform featuring an intuitive self-serve onboarding process that accomplishes in minutes what typically takes weeks with other solutions. Quanta also raised $4.7 million in seed funding led by Accel with participation from basecase, Comma Capital, Designer Fund, and Operator Collective, as well as prominent angel investors including Elad Gil. This round propels Quanta's vision of eliminating all non-creative accounting work in order to empower businesses with financial clarity in real-time.
Current Challenges in Software Companies' Accounting Services
Software companies are on the leading edge of innovation. However, their accounting services have not kept pace. Many organizations face prolonged accounting close cycles, manual workflows, and delayed access to critical financial metrics — which often leaves business leaders to rely on stale or incomplete data that hinders timely decision-making. And other emerging accounting tools over recent years have not been able to utilize AI for automation that allows their business to successfully scale and serve customers' need for real-time insights.
Quanta's Solution
"During my time as an engineer at Affirm, I built multiple financial systems of record — including its in-house accounting system — as the company scaled from 100 to 2,500 employees. I saw firsthand how far behind accounting software lagged," said Helen Hastings, founder and CEO of Quanta. "The manual work required to produce data has resulted in a once-per-month reporting cadence that holds businesses back. Quanta's vision is to automate all repetitive aspects of accounting, so finance teams need only focus on creative work: defining the business model, selecting the appropriate policies, and asking the right questions that will push their business forward. Quanta isn't just an accounting firm; it's an exponential upgrade to organizations' financial operations."
A New Level of Accounting Services
Quanta developed its own proprietary general ledger and granular subledgers, which, when integrated with its AI-powered engine, automates data population, validation, and interpretation. With this approach, Quanta alleviates the pain of traditional solutions and "100x's" its accountants — delivering the fastest, most accurate, and easiest to work with service on the market.
Quanta's Features
Quanta delivers: Speed and real-time insights: Powered by proprietary accounting software, Quanta updates in real-time through integrations with customers' banking systems and existing stack of financial tools. This enables seamless onboarding and unmatched speed compared to competitors relying on manual processes and outsourced bookkeepers. Unparalleled accuracy: Quanta's automated validation system ensures all accounting entries comply with each customer's set policies, and is supported by 40+ daily checks and reconciliations to ensure balances match with source financial tools. Advanced revenue and accrual functionality : Native tools, including a Stripe integration and contract ingestion system that automates revenue recognition across multiple sources in addition to an accrual system that automatically builds schedules for prepaids and fixed assets. This provides business leaders with greater accuracy, transparency, and efficiency in financial reporting by providing more granular and contextual accounting while reducing manual effort and human error. Highest quality human service: Each customer is paired with a dedicated financial expert via Slack, offering high-level strategic and creative guidance to drive key business decisions — only made possible due to the automation of routine bookkeeping tasks.
About Quanta
Quanta is the AI-powered accounting service for software businesses who want to get their finances right, without delay. Through native integrations with leading financial tools and banking providers, Quanta provides unparalleled access to key business metrics in real-time — giving customers an accurate view of their finances and empowering them with the knowledge they need to make critical business decisions with lightning speed. Quanta is privately held, with funding from Accel, basecase, Comma Capital, Designer Fund, Operator Collective, and more.