Basis Company Research Report

Company Overview

• Name: Basis

• Mission: To build AI agents that empower accountants to efficiently manage accounting workflows and adapt to the intricate and evolving nature of modern economic systems, effectively working as extensions of accountants.

• Founded By: No information is available.

• Headquarters: No information is available.

• Key People:

• Matthew Harpe

• Mitchell Troyanovsky

• Number of Employees: No information is available.

• Revenue: Basis has increased its revenue by 10x in recent months.

• What the Company is Known For: Basis is known for creating AI agents specifically designed for accountants. These agents integrate with existing accounting systems and processes to take on workflows and adapt their intelligence to various accounting engagements.

Products

• Product Name: AI Agents for Accounting

• High Level Description: Basis provides AI systems that learn, reason, and take action across accounting workflows. These agents are developed to integrate seamlessly with existing systems, enhancing the capabilities of accountants by working with the same ledgers and files already in use.

• Key Features:

• Adaptability: The agents can learn and adapt to different client needs and engagement requirements, which avoids the brittleness often seen in most software solutions.

• Integration: Basis supports integration with current systems and workflows without requiring replacement of existing infrastructure.

• Efficiency: Spearheads a new approach where the AI tools work in concert with accountants, performing tasks automatically and providing results to free up accountants for higher-level strategic work.

Recent Developments

• Funding:

• On December 17, 2024, Basis announced the closure of a $34 million Series A funding round led by Khosla Ventures with contributions from Nat Friedman, Daniel Gross, and Hersh Desai among others.

• Additionally, Basis had raised $3.6 million earlier on October 18, 2023.

• Partnerships:

• On September 16, 2024, a strategic partnership was announced between Wiss and Basis, expanding the reach and potential application of Basis's AI accounting platform.

• Company Announcements:

• Hosted the "Prompt Olympics Summer 2024," an event that explored advancements and applications within AI, with a recap noted on July 2, 2024.

• New Features: No specific information on new features added to the existing product.

Please note: No information is available for the founding date, the identity of the founders, company headquarters, or the number of employees.