Basis was founded in 2023 in New York City by Matthew Harpe and Mitchell Troyanovsky to build agentic AI for the accounting profession. Rather than offering a copilot that suggests text, Basis develops AI agents that can independently carry out multi-step accounting tasks the way a junior accountant would, working across the tools and ledgers firms already use.
The company's agents are designed to understand double-entry accounting, learn the specific needs and conventions of individual clients, and execute real work such as transaction categorization, reconciliations, and the preparation of financial statements and supporting schedules. In early deployments with select US accounting firms, Basis says its agents have saved accountants as much as 30% of their total working time.
Basis sells primarily to accounting and advisory firms rather than to end businesses, positioning itself as augmenting professional accountants rather than replacing the firm relationship. The company has emphasized accuracy and auditability, important requirements for a profession where errors carry regulatory and financial consequences.
In December 2024 Basis raised a $34 million Series A led by Keith Rabois and Adina Tecklu at Khosla Ventures, with participation from Nat Friedman, Daniel Gross, Hersh Desai, and existing investor Better Tomorrow Ventures. The funding is being used to expand the engineering team and broaden the set of accounting workflows its agents can handle.