Hyphenate, which builds AI agents that automate corporate finance work, raises a $45 million Series A

New York-based Hyphenate announced a $45 million Series A on October 27. Nexus Venture Partners led the round, with B Capital joining and existing backers Foundation Capital, BoldCap and Gaia Ventures returning. The raise brings its total funding to $54 million; no valuation was disclosed. The company changed its name from Maximor earlier this month. It was founded in 2024 by Ramnandan Krishnamurthy and Ajay Krishna Amudan, both former finance transformation leaders at Microsoft.

Hyphenate’s agents sit on top of a company’s existing ERP, accounting and banking systems. They handle order-to-cash, treasury, general ledger accounting and close, procure-to-pay, and reporting. Bloomberg describes the startup as building reinforcement-learning-driven agents for corporate finance tasks. Rather than relying on engineers to build rules for each client, the agents learn from historical spreadsheets, emails and system logs. Resolved exceptions become precedent for later closes, and each action is logged with evidence so the output is audit-ready.

The company says its revenue grew 86-fold and its customer base 11-fold over the past year. Customers include six public companies, among them Groupon, Synthesia and HiBid. Hyphenate says customers see 90% less repetitive finance work and 75% fewer audit exceptions. It plans to use the money to extend its agents across the whole finance function and into strategic areas such as forecasting and capital decisions. Better-funded rivals include Rillet, Basis, Campfire and Pennylane.