Materia is a comprehensive AI platform based in NYC, specifically designed for public accounting firms. It has raised $6.3M.
The round was led Spark Capital, with participation by Haystack Ventures and Thomson Reuters Ventures. Exponential Founders Capital and the Allen Institute for AI also participated.
The company plans to use the money to expand its operations and to develop its development efforts.
Materia, founded by Kevin Merlini (CEO) and Lucas Adams (CTO), is a provider for a comprehensive AI platform that generates new ideas. It is based on a proprietary accounting content library, which is integrated with firm expertise and key industry software. The platform provides a set of pre-built features to improve efficiency and accuracy for all levels of accountants across a variety workflows, while maintaining security and accuracy.
Materia’s AI platform consolidates internal knowledge of firms into a secure Knowledge Hub. This creates an organized enterprise search layer, which bridges engagement data silos. The Materia AI Assistant and Document Analysis Workspace rely on this Hub to provide reliable answers based upon proprietary knowledge and authoritative accounting standard. Together, these components enable Materia to accelerate testing and support complex decisions with specialized AI agents.
FinSMEs
20/06/2024