Stacks, an agentic artificial intelligence platform built for enterprise finance teams, announced it has raised a $23 million Series A round led by Lightspeed Venture Partners, with participation from EQT Ventures, General Catalyst and S16VC. The financing comes less than a year after the company’s $12 million seed round led by General Catalyst, underscoring its early traction and growth momentum.
Finance is emerging as one of the next major enterprise functions to be rebuilt with AI, following multibillion-dollar transformations in customer support and legal. As one of the most labor-intensive cost centers for large enterprises, finance teams often rely on manual processes across reconciliations, journal entries and the month-end close.
Since emerging from stealth less than a year ago, Stacks says it has onboarded more than 30 enterprise customers globally, saving finance teams over 100,000 hours annually by automating key accounting workflows.
A core focus of the company has been solving fragmented financial data infrastructure. Transaction-level details are often dispersed across enterprise resource planning systems, spreadsheets, data lakes and legacy tools, limiting real-time visibility and creating operational bottlenecks. Stacks developed a financial data layer that connects directly to finance systems to create a unified and consistent view across platforms. The company also built deterministic machine-learning tooling to ensure reliable automation at enterprise scale. On top of that foundation, Stacks has deployed AI agents that automate operational workflows across the finance stack, aiming to improve speed, accuracy and leverage for finance teams.
The company is expanding beyond close automation into financial intelligence. It introduced a new reporting and analysis suite, including AI Flux Analysis, designed to automate variance analysis and replace spreadsheet-based commentary with explainable, account-level investigation. The product identifies variance drivers across transactions, pulls historical context across reporting periods and generates explanations that finance teams can review and refine. Stacks also launched a leadership-ready executive summary tool as part of a broader intelligence suite targeting enterprise finance.
Stacks is positioning itself to address both the estimated $100 billion Office of the CFO software market and the broader labor spend supporting enterprise finance operations. The close and reconciliation space remains dominated by established vendors, but Stacks says its AI-native architecture is built from the ground up to support end-to-end agentic finance.
KEY QUOTES:
“Stacks is uniquely positioned to tackle some of the toughest challenges in enterprise finance. The team’s mix of technical and finance expertise from Uber and Plaid, along with the company’s remarkable traction, gives us strong conviction that they will lead the AI shift inside the Office of the CFO.”
Alex Schmitt, Partner At Lightspeed
“We slashed our monthly close time by eight days. Journal postings went from days to minutes, and we automated 95% of reconciliations.”
JP, Global Head Of Accounting At Nivoda
“We switched from a legacy provider we had used for years. Within weeks, we were benefiting from AI-powered automation for our financial close and reconciliations. The consumer-grade experience really stood out. We are now looking into the capabilities of their AI agents.”
Jessica Lindholm, Vice President Of Accounting At Epidemic Sound
“We started with the most manual and foundational workflows in finance: accounting and the close. From day one, we focused on solving the core problem: fragmented data. By building an AI-ready data layer, we’re unlocking what’s needed to bring AI agents into operational finance, shifting CFO teams from process execution to higher-value analysis and decision-making.”
Albert Malikov, Founder And Chief Executive Officer Of Stacks
