Fazeshift has joined the growing ranks of young companies developing AI agents to automate the activities of specific industries or business functions. The a Bay Area AI startup recently received $4 million in seed funding to continue the development of its AI agent focused on automating organizations’ accounts receivable function. The round was led by Google’s Gradient Ventures, with participation from Phoenix Fund, Pioneer Fund, Ritual Capital, Wayfinder, Y Combinator and other individual investors.
The company said the data needed to run accounts receivable is fragmented and disjointed, which most businesses respond to with heavily manual workflows. Fazeshift has leveraged agentic AI to offer a solution it says is able to pull data from multiple sources, identify relevant information and take autonomous action to complete the jobs associated with the process.
“Our mission isn’t just to bring AI into the workflow—it’s to fine-tune it for the unique Accounts Receivable processes of each business. This level of customization enables us to deliver powerful AI solutions tailored to specific needs,” the company wrote in a blog post announcing the funding round. “contract analysis, billing, cash application, collections, tasks, and tracking all live under one roof, powered by AI so your teams can focus less on copy-pasting, and more on the core business.”