The enterprise finance agentic platform Stacks has secured $23 million in a Series A round.
The round was led by Lightspeed, with S16VC, EQT Ventures, and General Catalyst doubling down. The deal highlights the company’s quick traction and momentum, coming less than a year after Stacks’ $12 million initial funding led by General Catalyst.
The next significant company function to be redesigned with Finance AI. One of the most labor-intensive cost centers for big firms, finance, is currently undergoing a change after multibillion-dollar ventures in customer service and law.
Less than a year after coming out of stealth, Stacks has onboarded over 30 enterprise clients worldwide and, by automating journal entries, reconciliations, and the month-end closure, has saved finance teams over 100,000 hours a year.
AI-Ready Financial Data:
One of the largest structural obstacles in company finance is still fragmented data. Because core platforms are inefficient, hard to connect, and not AI-ready, teams are forced to employ manual workarounds because transaction-level detail is dispersed among ERPs, spreadsheets, data lakes, and legacy systems.
Consequently, instead of working with real-time visibility, financial professionals spend more time reconciling figures.
By addressing this basis first, Stacks developed its platform. The business created a data layer that establishes a single, unified financial view across finance systems by connecting directly to them. Additionally, it has developed the deterministic machine-learning tools needed to ensure enterprise-scale automation is dependable. Building upon that basis, Stacks has implemented agents that automate operational activities throughout the finance stack, giving finance teams noticeably improved speed, accuracy, and leverage.
Alex Schmitt, Partner at Lightspeed, said: “Stacks is uniquely positioned to tackle some of the toughest challenges in enterprise finance. The team’s mix of technical and finance expertise from Uber and Plaid, along with the company’s remarkable traction, gives us strong conviction that they will lead the AI shift inside the Office of the CFO.”
Instant ROI Results:
In its initial core module, monthly close, Stacks is already producing impressive results, and its use in daily operational operations is increasing.
JP, Global Head of Accounting at Nivoda, stated: “We slashed our monthly close time by eight days. Journal postings went from days to minutes, and we automated 95% of reconciliations.”
Jessica Lindholm, VP of Accounting at Epidemic Sound, said: “We switched from a legacy provider we had used for years. Within weeks, we were benefiting from AI-powered automation for our financial close and reconciliations. The consumer-grade experience really stood out. We are now looking into the capabilities of their AI agents.”
Beyond Close Automation:
Stacks has established a data foundation and is now branching out into financial intelligence.
To help finance teams transition from manual reporting to automated business explanation, the company today unveiled a new range of reporting and analytic tools.
AI Flux Analysis, a software that automates variance analysis and substitutes explainable, account-level examination for spreadsheet-based comments, is at the heart of the launch. Flux takes historical context from various time periods, finds variation drivers across transactions, and produces explanations that finance teams can examine and improve.
Additionally, Stacks is launching a leadership-ready executive summary, which is the foundation of a larger corporate finance intelligence package.
End-to-End Agentic Finance:
With an AI-native platform developed from the ground up, Stacks is aiming to tackle the far greater personnel spend that continues to drive enterprise finance in addition to the $100 billion Office of the CFO software industry. Incumbents such as BlackLine, HighRadius, and OneStream continue to dominate the close and reconciliation market with outdated systems that are expensive to implement and have low client satisfaction ratings.
Albert Malikov, Founder and CEO of Stacks, says: “We started with the most manual and foundational workflows in finance: accounting and the close. From day one, we focused on solving the core problem: fragmented data. By building an AI-ready data layer, we’re unlocking what’s needed to bring AI agents into operational finance, shifting CFO teams from process execution to higher-value analysis and decision-making.”
