Synthetic Raises $10M Seed Led by Khosla Ventures
The San Francisco startup is developing an AI-powered bookkeeping service tailored for software companies with backing from major venture firms and tech executives
Synthetic, a San Francisco-based financial technology startup, has announced the successful closure of a $10 million seed funding round. The investment was led by Khosla Ventures and included participation from Basis Set Ventures. The company is focused on creating a specialized bookkeeping service tailored for the needs of software startups. According to the company, this service is designed to be run entirely by artificial intelligence, aiming to automate financial record-keeping for emerging tech firms.[1][2]
The seed round also featured significant contributions from a group of high-profile operator-investors within the technology sector. Among the individual backers are Tobi Lütke, the CEO of Shopify, and Kaz Nejatian, who currently serves as the CEO of Opendoor and formerly held the position of Chief Operating Officer at Shopify. The round also saw investment from Zach Abrams, a co-founder of the payments company Bridge, which was recently acquired by Stripe in a deal valued at $1.1 billion.[1][2]
The San Francisco-based company aims to streamline financial operations for its clients by utilizing its AI-driven platform. The participation of venture capital firms like Khosla Ventures and Basis Set Ventures, along with several prominent technology executives, supports the startup's mission to automate bookkeeping for the software industry.[1][2]
