Hannah Torrance
January 7, 2025
San Francisco-based Fazeshift, an AI-driven platform revolutionizing accounts receivable (AR) processes, has raised $4 million in a seed funding round led by Gradient, Google’s AI-focused venture capital arm. Other investors include Y Combinator, Wayfinder, Pioneer Fund, Ritual Capital, Phoenix Fund, and prominent angel investors such as Terrence Rohan, Kulveer Taggar, and Rich Aberman.
A New Era for Accounts Receivable
Fazeshift leverages large language models (LLMs) to automate and streamline traditionally manual AR processes, such as:
• Invoice Creation: Extracting billing terms from contracts and generating error-free invoices.
• Payment Reconciliation: Handling diverse payment methods (ACH, wire, credit card, etc.) and integrating seamlessly with existing accounting software.
• Collections Automation: Sending reminders and escalating overdue payments to reduce Days Sales Outstanding (DSO).
Unlike conventional robotic process automation (RPA) systems, Fazeshift’s AI agents adapt to complex workflows and deliver enterprise-grade accuracy.
“The B2B payments stack is being completely reinvented as AI agents take center stage. By automating tedious AR tasks, Fazeshift frees finance teams to focus on more strategic priorities,” said Caitlin Leksana, Co-Founder and CEO of Fazeshift.
Investment Vision and Plans
The funding will fuel Fazeshift’s expansion efforts, including product development and customer acquisition. The company is already working with enterprise clients, automating processes previously requiring large AR teams.
Darian Shirazi, Managing Partner at Gradient, emphasized the transformative potential of Fazeshift:
“We’re excited to partner with the Fazeshift team as they streamline AR processes while maintaining the customization and visibility finance teams demand.”
Streamlining Business Operations
Fazeshift’s modular architecture integrates with CRMs, ERPs, banks, and accounting systems, enabling tailored solutions for diverse business needs. This flexibility allows companies to automate entire workflows or selectively involve humans in specific tasks.
“We’ve seen enterprises allocate up to 20 people to manage AR. Fazeshift enables these companies to consolidate operations, saving time and improving cash flow,” added Leksana.
About Fazeshift
Founded in 2023 by Caitlin Leksana and Timmy Galvin, Harvard MBA classmates, Fazeshift is on a mission to modernize AR management. The platform addresses the $200 billion spent annually by businesses on AR processes, delivering a seamless, AI-powered alternative.
For more information, visit Fazeshift.
