The first wave of finance AI helped teams work faster. The next is taking responsibility for the work itself. Hyphenate, the autonomous finance platform for the office of the CFO, today announced a $45 million Series A led by Nexus Venture Partners, with participation from B Capital and existing investors including Foundation Capital, BoldCap and Gaia Ventures.
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Inside Hyphenate customers, agents are already reconciling cash, processing sales orders, running invoicing, maintaining subledgers and moving the close forward, with finance teams stepping in only where judgment changes the outcome. The round, which brings total funding to $54 million, comes less than a month after Maximor rebranded to Hyphenate, as customers expand its use across the office of the CFO. The company will use the capital to take its agents deeper across the finance function and into strategic finance.
“Every finance team carries a long list of work it does because somebody has to,” said Ramnandan Krishnamurthy, co-founder and CEO of Hyphenate. “Our customers are watching that list shrink in production. Once a team sees the system handle one workflow to an auditor’s standard, they hand it the next one. That is the pattern this company is built around, and this round lets us run it across the whole function.”
12 months from seed to 86x
Hyphenate raised a $9 million seed one year ago to take repetitive work off finance teams. Since then, the company has passed multi-million-dollar ARR, its agents have taken on work across hundreds of entities, thousands of bank accounts and millions of transactions every day, and customers report 90% less repetitive finance work and 75% fewer audit exceptions. The more telling number is what customers do next: 40% expand within their first year, several by two to three times, and the average customer runs six modules.Companies are handing the system larger parts of finance once it has proved itself in one workflow.
What that looks like in production
The expansion is now visible in production, at companies where finance errors carry real cost.
Mini Melts USA, the consumer goods company, runs Hyphenate agents on top of its SAP environment for orders, invoicing and refunds. Within three months of going live, the company was getting back 16,640 hours of finance work a year.
HiBid, one of the largest online auction platforms in North America, has run more than $2.5 billion in GMV through full order-to-cash automation on Hyphenate. Invoicing, collections and cash application across that volume now run as a single continuous process, and the company has cut its month-end close from three weeks to one day.
Groupon, the Nasdaq-listed marketplace, is replacing legacy and home-grown systems with Hyphenate across treasury, order-to-cash and more than a dozen subledger processes. “As a public company, we run finance at a scale where every number has to stand up to scrutiny: millions of transactions, multiple currencies and markets, and auditors who need the evidence behind all of it. We’re replacing legacy and home-grown tools with Hyphenate because it’s built for that bar, and we see it becoming the AI foundation for our entire finance organization,” said Rana Kashyap, CFO of Groupon.
Synthesia, the AI video platform, is rolling Hyphenate out across its finance function. “As an AI company, we expect our own operations to run on AI. The breadth of the Hyphenate platform has improved every functional area of our accounting and finance operations. We replaced point solutions with an autonomous finance platform that understands our business. Now the team focuses on exceptions and analysis, which helps make decisions faster,” said Daniel Kim, CFO of Synthesia.
How Hyphenate works
Hyphenate sits on top of the ERP, banks and other systems a company already runs and connects them into a single shared finance context. The business keeps its systems of record and gains a layer that can act across all of it.
On that layer, agents work across five areas of finance: order-to-cash, treasury, GL accounting, procure-to-pay, and reporting and insights. In practice that covers revenue recognition, invoicing, collections, cash reconciliation, accruals, subledgers, AP, close and board reporting.
What sets the system apart is that it’s self learning. Instead of relying on forward-deployed engineers to build bespoke agents for each customer, Hyphenate trains on a company’s historical spreadsheets, emails and system logs, then replays past months to pick up the edge cases traditional software never handled: the tribal knowledge that has kept finance manual. From there, it gets better the longer it runs. An exception resolved during one close becomes precedent for the next. A policy decision made once is applied every time the same situation appears. Every action carries its evidence with it, so the output is audit-ready by default. Month by month, the share of routine work handled autonomously rises, and the finance leader’s involvement narrows to the decisions that require judgment.
The trust threshold is moving
Finance has been one of the hardest functions for AI to enter autonomously. Research commissioned by the company earlier this year found that 96% of CFOs saw freeing teams for strategic work as AI’s biggest benefit, while only 14% completely trusted AI to produce accurate accounting data independently. Ninety-seven percent said human oversight was critical.
Hyphenate’s growth suggests a path through that tension. Autonomy does not require giving an AI system unrestricted control. It requires giving it responsibility within clear boundaries, preserving evidence behind every action and involving a human at the moments where judgment changes the outcome.
“What makes Hyphenate compelling is that autonomy is already showing up in customer operations,” said Abhishek Sharma, Managing Director at Nexus Venture Partners. “Finance has an unusually high bar for accuracy, controls and auditability. Hyphenate has built around that bar from the beginning, and the expansion we are seeing inside customers shows what becomes possible once the system earns the right to take on more work.”
What’s next
The Series A gives Hyphenate the capital to scale even faster as it pushes its agents deeper into every corner of the finance function. The end state is a company whose finance operations run themselves, continuously and with evidence attached to every action, while the team spends its time on the decisions that actually move the business. And because Hyphenate executes the work itself, it is building something no reporting tool can: a live, verified picture of how money really moves through a business, which the company sees becoming the foundation for forecasting and for every capital decision a CFO makes.