Quanta, a next-generation accounting company powered by AI, announced the general availability of its platform, featuring a self-serve onboarding process that accomplishes in minutes what typically takes weeks with other solutions. And Quanta also raised $4.7 million in seed funding led by Accel with participation from basecase, Comma Capital, Designer Fund, and Operator Collective, as well as prominent angel investors including Elad Gil.
This funding round advances Quanta’s vision of eliminating all non-creative accounting work and empowering businesses with real-time financial clarity.
Accounting services have long not kept pace with software innovation. Many organizations face prolonged accounting close cycles, manual workflows, and delayed access to critical financial metrics, which often leaves business leaders to rely on stale or incomplete data that hinders timely decision-making. Other emerging accounting tools over recent years have not been able to utilize AI for automation that allows their businesses to scale successfully and serve customers’ need for real-time insights.
Quanta created its own proprietary general ledger and granular subledgers, which, when integrated with its AI-powered engine, automates data population, validation, and interpretation. And with this approach, Quanta alleviates the pain of traditional solutions and “100x’s” its accountants — delivering the fastest, most accurate, and easiest to work with service on the market.
KEY QUOTES:
“During my time as an engineer at Affirm, I built multiple financial systems of record — including its in-house accounting system — as the company scaled from 100 to 2,500 employees. I saw firsthand how far behind accounting software lagged. The manual work required to produce data has resulted in a once-per-month reporting cadence that holds businesses back. Quanta’s vision is to automate all repetitive aspects of accounting, so finance teams need only focus on creative work: defining the business model, selecting the appropriate policies, and asking the right questions that will push their business forward. Quanta isn’t just an accounting firm; it’s an exponential upgrade to organizations’ financial operations.”
- Helen Hastings, founder and CEO of Quanta
“The accounting industry is at a critical juncture where new solutions are required to meet modern demands. AI breakthroughs and the consolidation of financial data in modern cloud services create a unique opportunity for innovation, and Quanta is perfectly positioned to harness it. Helen and the Quanta team are building a system that represents a radical departure from the status quo, delivering a new model of real-time delivery and unparalleled accuracy. I’m excited to join them on their journey to raise the bar for what modern businesses should expect from their accounting services.”
- Amit Kumar, partner at Accel
“Quanta is the fastest outsourced accounting service. The efficiency gains since partnering with Quanta have been remarkable. They’ve helped us reduce our closing time by 85%, giving us visibility into our business faster. Now, any time we need to see financial performance, we trust Quanta’s platform reflects the most up-to-date, accurate information. Even more, it is a relief to have them as a thought partner to help lay the right foundation for the future in the ever-changing world of accounting requirements.”
- Chris Burgner, Head of Finance & Analytics at Equals
