Startup raises $45 million to build AI that keeps company books

Hyphenate, a startup that builds artificial intelligence agents for finance departments, has raised $45 million in new funding, Bloomberg reported on Tuesday, Oct. 27. An AI agent is software that can carry out tasks, not just answer questions. Hyphenate's agents handle the books for customers that include Groupon and the AI video startup Synthesia.

What the company does

Hyphenate was founded in 2024 by two Microsoft veterans, Ramnandan Krishnamurthy and Ajay Krishna Amudan. It builds custom agents for each customer. The CEO said its system learns from a customer's own financial history, and that history becomes "the brain of the self-improving AI agent." The money will help it expand in accounting and strategic finance. It competes with companies such as Ramp.

Revenue has grown 86 times since its $9 million seed round, which came more than a year ago. The report did not give the actual revenue figure.

Trust is still the limit

A PYMNTS Intelligence report from October shows how cautious finance teams remain. Use of generative AI for cash flow management rose from 16% in 2025 to 80% in 2026. Use of agentic AI, where the software acts on its own, slipped from 6% to 5%. In short, AI is advising far more than it is deciding.

Not yet known from the coverage: who invested, what the company is worth, what it charges, and how accurate its agents are.