Gradient Raises $4 Million for AI Accounting Firm

Gradient raised $4 million in pre-seed funding to operate an accounting firm for US startups, according to Tech Funding News. VentureFriends, Acadian Ventures, TinyVC, Heartfelt and Kima Ventures participated in the round.

Gradient uses AI for internal accounting work while founders communicate with human experts. Licensed US certified public accountants manage client channels and approve federal tax returns. The company charges a fixed monthly fee and says it can close the books the same day, answer questions in less than five minutes and prepare tax returns within two days.

Gradient says customers backed by a16z, Y Combinator and Liquid 2 Ventures already use its service, which has reconciled more than $40 million. The seven person company will use the funding to improve its internal technology, acquire customers and expand beyond bookkeeping, tax and compliance services.