New York, NY – Maximor, a startup co-founded by former Microsoft executives Ramnandan Krishnamurthy and Ajay Krishna Amudan, has emerged from stealth operations, securing a $9 million seed funding round led by Foundation Capital. The company aims to reduce reliance on traditional spreadsheet-based financial processes through the deployment of AI agents designed to automate reconciliation and month-end closing procedures for mid-sized and enterprise companies.
Maximor's platform utilizes a network of AI agents that integrate directly with existing ERP, CRM, and billing systems to continuously extract and unify operational and financial transaction data. This approach is intended to provide real-time financial visibility, a departure from conventional methods that often delay data aggregation until month-end, according to CEO Ramnandan Krishnamurthy. The system's design is anticipated to significantly decrease the time required for the monthly financial close.
The company reports that early adopter proptech firm Rently reduced its financial close period from eight days to four and avoided two additional accounting hires after implementing Maximor's agentic platform. Dustin Neel, Rently's CFO, stated that the firm was able to reallocate nearly half of its team’s time to strategic initiatives. Maximor's agents are designed to integrate with platforms such as NetSuite, Intacct, QuickBooks, Zoho Books, alongside various payroll, CRM, and other SaaS solutions, generating workpapers, reviewer notes, and audit trails. While the system aims to minimize Excel dependency, it maintains the capability to export reconciled data into spreadsheets, a format often preferred by auditors and finance personnel.
Beyond its AI-driven automation, Maximor offers human accounting services, including a "human-in-the-loop" option for AI-generated work review or as a comprehensive accounting service for organizations lacking internal finance departments. Krishnamurthy explained that the software's agents operate autonomously, handling end-to-end tasks, with human staff primarily functioning as reviewers, mirroring established accounting team structures. The startup, established in summer 2024, is headquartered in New York with an office in Bengaluru, employing 18 individuals. Maximor targets companies generating at least $50 million in annual revenue and supports both GAAP and IFRS accounting standards, catering to a global client base with early customers identified in the U.S., China, and India.
