Fazeshift, a San Francisco-based startup leverAGIng AI Agents to automate accounts receivable (AR), has announced the completion of a $17 million Series A funding round. The Investment was led by F-Prime Capital, with participation from Google's early-stage AI fund, Gradient Ventures, Y Combinator, and other prominent investors. This latest round brings the company's total capital raised to $22 million since its inception in 2023.
Founded by a team with diverse backgrounds, including former BCG consultants, Fazeshift is addressing a critical bottleneck in modern finance. The company's platform operates as an Intelligent execution layer on top of a business's existing Technology stack—integrating with ERPs, CRMs, and email systems—to automate over 90% of manual AR tasks. This includes complex workflows such as invoicing, collections, payment matching, and reconciliation, which are particularly fRAGmented in industries like wholesale, construction, and HVAC.
Since launching its Operations in the summer of 2024, Fazeshift has experienced rapid growth, reporting a 12-fold increase in revenue over the past year. The platform is currently utilized by dozens of enterprise CLIents, including eight "unicorn" companies such as Sigma Computing, Snyk, Meter, and Clipboard Health. By shifting from traditional AI Copilots to autonomous AI agents, Fazeshift helps finance teams significantly reduce Days Sales OutStanding (DSO) and improve cash flow. Looking ahead, the company plans to expand beyond accounts receivable into a broader suite of CFO tools, aiming to pioneer the future of "autonomous finance."
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