Quanta is Automating Accounting Out of Existence

For decades, accounting has been one of the most rigorous and time-consuming back-office activities in business. Finance teams have long been forced to rely on legacy technologies, sluggish reconciliation processes, and out-of-date reporting cycles, which result in analysing stale data weeks after a financial period ends. While AI has generated headlines in fields such as robotics and automation, one of its most significant yet underappreciated uses is emerging in an industry with little innovation which is accountancy. Quanta, a startup built by finance and engineering veterans, is taking on this challenge. The company has raised a $4.7 million seed round led by Accel, with participation from Designer Fund, Elad Gil, Basecase, Comma Capital, Operator Collective, Founders You Should Kno