Enterprise finance platform Stacks raises €19 million to streamline reporting and month-end workflows
**Stacks Secures €19 Million to Revolutionize Enterprise Finance with AI** British AI platform Stacks has announced a significant €19 million Series A funding round, aimed at enhancing its reporting and analysis suite, notably featuring its new AI Flux Analysis offering. This investment, led by Lightspeed with participation from EQT Ventures, General Catalyst, and S16VC, underscores a strong investor confidence in AI-driven solutions for core business functions. Stacks' mission is to address the pervasive issue of fragmented data in enterprise finance by building an AI-ready data layer, enabling finance teams to shift from manual process execution to higher-value analytical tasks. The funding injection will accelerate Stacks' development of AI agents designed to automate critical operational finance workflows, including reconciliations, journal entries, and the month-end close. With over 30 enterprise clients already benefiting from the platform, Stacks claims to reduce close cycles by up to 50% and save finance teams significant hours annually. This efficiency gain is attributed to the platform's ability to tackle fragmented data dispersed across various legacy systems and spreadsheets, a common pain point for many organizations. This substantial investment in Stacks aligns with a broader trend observed in the European tech landscape, where startups are raising significant capital to advance enterprise AI and data infrastructure. Recent funding rounds for companies like Agaton and Blockbrain highlight a robust ecosystem focused on leveraging AI for insights and automation. Stacks' success, founded by former Uber and Plaid leaders, positions it as a key player in the ongoing digital transformation of the office of the CFO, emphasizing European innovation in enterprise-grade AI solutions.
Curated and translated by Europe Digital for our multilingual European audience.
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