Maxa – the top Snowflake Native App for business system and ERP insights automation for the Gen AI era – announced that it closed its Series A funding as part of an oversubscribed $21 million transaction. The funding round was led by FRAMEWORK, with BDC Capital’s Industrial Innovation Venture Fund as co-lead. Maxa also brought in new investors Snowflake Ventures, Amiral Ventures and NAventures, the venture arm of National Bank of Canada, in addition to third-time backers AQC Capital and Graphite Ventures.
The funding round will further Maxa’s goal to help customers turn raw business data into ready-to-use insights with 90% less effort.
Companies utilize Maxa to automate financial, ERP, and operational reporting and analysis, pre-computed at scale. This enables managers to improve business decision-making and daily course correction. New systems and insights can be swapped in and out without pain.
This new funding will fuel Maxa’s product, go-to-market and customer self-serve capabilities. And central to Maxa’s software is the Universal Business Data Model (UBDM), which standardizes and can combine data from nearly any business system, making it accessible to non-technical analysts, developers and AI-driven insights. And Maxa addresses head-on Generative AI’s struggles with accuracy, governance and auditability.
KEY QUOTES:
“Every enterprise is scrambling to implement AI, find cost savings and develop better insights to run their businesses more effectively and efficiently. Maxa is a truly rare company that checks all those boxes. With an out of the box ability to generate immediate insights from existing disparate systems, Maxa is the next generation of AI. Out of the almost 50,000 companies FRAMEWORK tracks, Maxa is one of the top performing data+AI companies in the world. We are thrilled to be part of their journey.”
- Jim Texier, partner at FRAMEWORK
“We simplify the overwhelming complexity of today’s enterprise data system landscape.”
- Raphael Steinman, Co-Founder and Co-CEO of Maxa
“This year, the game-changer was Native Apps – the framework that allows us to wrap Maxa’s software into an application installed securely in a customer’s own Snowflake data cloud account. For example, a bank is unlikely to send sensitive data to vendors, but we can bring Maxa directly to the data. The advantages are clear: security, control, performance, and procurement streamlining, to name a few. Virtually no one had this construct on their company roadmap, and that is why it is so disruptive.”
- Alexis Steiman, Co-Founder & Co-CEO
