- Hyphenate has raised $45m in a Series A round led by Nexus Venture Partners, with B Capital also joining in.
- The New York startup has seen its revenues grow 86x over the last 12 months.
- Company research indicates that only 14% of CFOs would fully trust AI to generate their accounting data on its own.
New-York startup Hyphenate raised a $45 million Series A round led by Nexus Venture Partners, with B Capital also joining. Existing investors Foundation Capital, BoldCap and Gaia Ventures also participated. Total funding now stands at $54 million.
“Every finance team carries a long list of work it does because somebody has to. Our customers are seeing that list shrink in production. Once a team gets one workflow to an auditor’s standard, they hand it to the next one. That is the pattern the company is built on and this round enables us to run that across the entire function,” said Ramnandan Krishnamurthy, co-founder and CEO of Hyphenate.
Hyphenate was founded in 2024 by Krishnamurthy and Ajay Krishna Amudan, who were both former Microsoft finance transformation leaders. Amudan spent five years at Microsoft leading finance transformation, including the complete rebuild of the company’s internal finance platform for metering, pricing, billing, collections and revenue reporting.
In September 2025, Foundation Capital led the $9 million seed round, with participation from angels Aravind Srinivas, CEO of Perplexity, and Tien Tzuo, CEO of Zuora.
How Hyphenate’s agents learn a finance team’s habits
The agents work across five main areas: order-to-cash, treasury, general ledger accounting, procure-to-pay and reporting & insights. That’s revenue recognition, invoicing, collections, cash reconciliation, accruals, accounts payable, month-end close and board reporting.
Hyphenate integrates with existing ERPs, banks and all the other systems that a company is already using, so there’s no need to replace your current stack. What makes it different is the self-learning aspect. Rather than having engineers build bespoke agents, it trains on the company’s own spreadsheets, emails, and system logs.
The platform looks at the past months and identifies the odd cases that used to require manual intervention. Once an exception has been resolved, it becomes a rule, and that action is then recorded so you’re audit-ready from the outset.
Hyphenate claims their customers see a 90% reduction in repetitive finance work and a 75% reduction in audit exceptions. Its agents process operations for hundreds of entities, thousands of bank accounts, and millions of transactions daily. Approximately 40% of customers go on to use the platform more in their first year, with a number of them increasing their usage by two- or three-fold. On average, each customer utilises six modules.
Hyphenate says its revenue has grown 86x and its customer base 11x in the last year, including 6 public companies, such as HiBid, Groupon, and Synthesia.
Can autonomous finance win over the CFOs?
Finance is still one of the hardest functions to get AI into. A Hyphenate-commissioned study from early 2026 found that 96% of CFOs see freeing their teams to do strategic work as the key benefit of AI. Only 14% of those surveyed are completely confident that AI can generate accurate accounting data on its own, and 97% believe that human oversight is a necessity.
Hyphenate supports giving AI autonomy, but again with clear boundaries. The company states that AI systems will need responsibility within those boundaries, proof of every action, and people to be involved where there is a need for judgement.
Abhishek Sharma, managine director at Nexus Venture Partners, agrees, “What makes Hyphenate compelling is that autonomy is already showing up in customer operations. Finance has an unusually high bar for accuracy, controls and auditability. Hyphenate has built around that bar from the beginning, and the expansion we are seeing inside customers shows what becomes possible once the system earns the right to take on more work.”
Several of the competitors are better funded. Rillet raised a $100 million Series C at a $1 billion valuation in August 2026. Basis raised $100m at a $1.15bn valuation in a round focused on agents for accountancy firms. Campfire raised a $65m Series B in October 2025, co-led by Accel and Ribbit Capital. Stacks, which also has connectivity to existing finance systems, raised $23m in a Series A in February 2026. In Europe, French unicorn Pennylane raised $200m in the same round.
With the new funding, Hyphenate plans to expand its agent footprint further into finance and into more strategic areas. The ambition is for transaction records to form the basis of forecasting and capital decisions for CFOs.
Showing speed is easy. The bigger challenge is with Hyphenate’s six public-company customers, whose finances must pass audits and regulatory checks. If an agent makes a mistake, a person has to approve the fix.
