Maxima has secured $41 million in combined Seed and Series A financing as it aims to transform the month-end accounting close through its agentic AI platform. The funding was led by Redpoint Ventures, Kleiner Perkins, and Audacious Ventures, with participation from several industry leaders, including former BlackLine executives Andres Botero and Eric Borrmann, Rubrik CFO Kiran Choudary, Vanta CFO David Eckstein, and Liquid 2 Managing Partner and former NFL Super Bowl Champion Joe Montana.
The funding positions Maxima to scale its AI-driven approach to automating one of the most labor-intensive, error-prone responsibilities in corporate finance.
The month-end close remains a highly manual process, despite decades of advancements in enterprise software. In the first ten months of 2024, 140 U.S. public companies were forced to restate their financial results due to accounting errors, marking the highest total in nearly a decade.
Teams continue to reconcile sprawling datasets across numerous systems while facing growing complexity, tighter timelines, and rising regulatory expectations. Hiring additional staff has been the only viable strategy for many organizations. However, this approach has led to higher workloads, increased errors, and widespread burnout.
Maxima aims to replace this cycle with an intelligent automation layer that handles preparation, reconciliation, and documentation while leaving accountants in complete control of review and decision-making. The platform’s agents automate journal entries, reconciliations, policy applications, data transformations, anomaly detection, and commentary generation. When accountants begin their reviews, the core work is already prepared, validated, and ready for audit. Co-founder and CEO Yogi Goel brings extensive experience from EY, Citigroup, Barclays, and Rubrik, where he saw firsthand the persistent challenges of the month-end close even within high-performing finance teams.
Customers, including Scale AI, SpotOn, and Rippling, have reported achieving as much as an 80 percent faster close rate, 95 percent automation of manual tasks, and complete auditability across their close workflows. With businesses producing increasingly complex financial datasets, Maxima’s founders — Goel, Akshaya Srivatsa, and Jack Liao — designed the platform to operate as an intelligence layer above existing ERP systems, rather than a replacement for them.
Investors describe the opportunity as a structural shift in how accounting teams will operate as workloads expand beyond human capacity. Maxima plans to utilize the new capital to accelerate product development, expand its enterprise capabilities, and scale its go-to-market operations to meet the growing demand from finance organizations seeking to enhance accuracy, compliance, and reporting efficiency.
KEY QUOTES
“I’ve seen too many talented accountants pushed to their limits — working 16- to 20-hour days for weeks on end just to get the books closed. Accountants are drowning in repetitive, manual work that leaves little time for the judgment, analysis, and strategy their companies actually rely on them for. Maxima’s goal is to change that dynamic by giving accounting teams intelligent systems that can take on the heavy lifting while maintaining accuracy, transparency, and control.”
Yogi Goel, Co-founder and CEO, Maxima
“Maxima has significantly reduced our manual burden, especially for accountants managing general ledger accounting across multiple bank accounts and entities. What used to be repetitive, low-value work is now automated, freeing our team to focus on deeper reconciliations, analytical reviews, and cross-functional insights — helping even our junior staff develop a stronger understanding of our financials through more meaningful, high-impact work.”
Vipin Sethi, Controller, Rippling
“The complexity of accounting operations has outgrown human capacity. AI can now take on the heavy lifting for accountants in ways that simply weren’t possible before, and we’re deeply confident in Yogi and the Maxima team’s ability to lead this shift. They combine rare domain depth in accounting and finance with the technical rigor needed to build enterprise systems that are both scalable and trustworthy.”
Satish Dharmaraj, Managing Director, Redpoint Ventures
“As businesses generate more financial data across more systems, the surface area for errors and delays has exploded. There is a need for AI that can autonomously prepare, reconcile, and validate financials at scale, and we believe Maxima can set a new standard for accuracy and auditability in the AI era.”
Aditya Naganath, Principal, Kleiner Perkins
