Briefcase Raises $3 Million for AI Bookkeeping and Accounting Automation Platform

Briefcase has raised $3 million in a seed round to grow its artificial intelligence (AI) bookkeeping and accounting automation platform.

The company will use the funding to hire engineers and product experts to serve its early adopters and onboard new customers, Briefcase said in a Wednesday (Dec. 4) post on LinkedIn.

Briefcase’s AI-native platform delivers speed and accuracy, smart categorization, value-added tax (VAT) compliance, and AI learning that eliminates the need to set up a supplier rule, according to the company’s website.

The platform also features description extraction, duplicate detection, and an audit log that makes every AI decision justified and fully auditable, per the website.

Briefcase’s seed round was led by Earlybird Venture Capital, alongside Tiny Supercomputer Investment Company (TSIC) and Entrepreneur First, and included several angel investors, according to the LinkedIn post.

“We’re deeply grateful to have the support of such an incredible group of angels and investors who believe in our vision to reshape the future of accounting,” the post said.

Although Briefcase is in its prelaunch phase, it has already partnered with several accounting firms in the United Kingdom, Earlybird Venture Capital said in a post on LinkedIn.

“The team at Briefcase has a deep domain understanding and a fast learning rate on AI engineering to deliver agentic capabilities,” Earlybird Partner Tim Rehder said in the post. “LLMs, vision models and new scaling potentials for reasoning will mean more automation in accounting than was ever previously possible.”

AI is poised to change the accounting industry, Andreessen Horowitz said in a report posted in June.

Repetitive tasks in bookkeeping, tax preparation and auditing can benefit from the technology, the report said.

Accounting firms are eager to harness AI’s potential to enhance efficiency and manage increasing workloads at a time when the accounting profession is facing the dual challenges of an aging workforce and a decline in new entrants, per the report.

Seventy-two percent of finance leaders are actively using AI in their operations for tasks ranging from fraud detection to customer onboarding automation, according to the PYMNTS Intelligence and NCR Voyix collaboration, “Is AI the Master Key to Banking’s Next Era?”