WiseLayer Raises $7.2 Million for AI Agents for Accounting Teams

WiseLayer raised $7.2 million to continue developing its task-specific artificial intelligence (AI) agents designed for finance and accounting teams.

The company’s AI agents are currently used by more than 100 companies, according to a Tuesday (Jan. 28) press release.

These AI agents free up finance and accounting teams from having to spend time on recurring administrative and compliance tasks, WiseLayer CEO and Co-Founder Josh Stein said in the release.

“WiseLayer’s mission is to build AI agents to automate these repetitive, laborious processes with precision, so that these highly skilled people can focus on strategic financial initiatives that drive company growth,” Stein said.

Each of the company’s AI agents automates a recurring process that is highly manual and complex, according to the release.

WiseLayer’s “digital workforce” includes six agents specializing in accruals and revenue recognition; discrepancies and financial anomalies; bank reconciliations; fixed asset depreciation and amortization; lease accounting; and prepaid expenses, the release said.

The company’s AI platform plugs into software tools commonly used by finance and accounting teams. It has more than 300 integrations into enterprise resource planning (ERP), billing, procure-to-pay (P2P), human resources information system (HRIS) and other systems, per the release.

“The exceptional early traction that WiseLayer has achieved with its many large customers, each of whom love their product, demonstrates a clear market need,” Brendan Dickinson, general partner at Canaan Partners, which led the funding round, said in the release.

AI agents are ushering in smarter automation for enterprises, delivering a wide range of industry-specific applications, PYMNTS reported Monday (Jan. 27).

It was reported Jan. 21 that Goldman Sachs has introduced an AI assistant for its traders, bankers and asset managers that helps with tasks like summarizing or proofreading emails and translating code from one language to another.

The bank has offered the AI assistant to around 10,000 employees so far, with the goal of getting it to all its knowledge workers this year.

On Jan. 9, Nevermined said it raised $4 million to accelerate adoption of its AI-to-AI protocol that enables AI agents to pay and get paid.

The company’s AI payment rails and infrastructure allow AI agents to discover, negotiate and compensate each other in real time.