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Industries
Fintech
Cybersecurity
Company Size
11-50
Company Stage
Series A
Total Funding
$37.6M
Headquarters
New York City, New York
Founded
2023
Company Does Not Provide H1B Sponsorship
Basis provides automated data encryption solutions specifically designed for financial institutions such as banks and investment firms. Its main product is an encryption platform that automatically encrypts data at rest, using industry-standard methods like AES 256 and HMAC to protect sensitive information from unauthorized access. Additionally, Basis secures data transmission with HTTPS and TLS, ensuring that data remains safe during transfer. Unlike many competitors, Basis operates on a subscription-based model, allowing clients to integrate its services through secure APIs while maintaining full control over their data. The company's goal is to enhance data security and privacy for financial entities, ensuring that client information is never shared or stored without consent.
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Total Funding
$37.6M
Above
Industry Average
Funded Over
2 Rounds
Industry standards
Company Equity
The B2B payments landscape is at a pivotal juncture as 2025 approaches.On one hand, the imperative to digitize and integrate payment processes has never been more pressing. On the other, legacy systems and entrenched processes pose significant obstacles, creating a delicate balancing act for businesses striving to modernize.Understanding these dueling imperatives is key to navigating the future of B2B payments, as organizations grapple with how to innovate without compromising existing workflows.Success may depend on embracing a strategic approach that balances the need for innovation with the realities of legacy infrastructure. By tackling modernization incrementally, leveraging partnerships and fostering a culture that champions change, businesses can work to chart a path forward that helps ensure both operational excellence and future readiness.After all, it wouldn’t be a B2B new year without something old and something new.The Digitization and Integration of B2B Payment ProcessesThe digital transformation of payment processes offers unparalleled opportunities for efficiency. Manual processes, still prevalent in many B2B transactions, are fraught with delays and errors. Digitized systems, by contrast, enable real-time payments, automated reconciliation, and streamlined approvals, reducing operational friction and enhancing cash flow visibility.There are two sides to any commercial transaction. Within B2B, buyers and suppliers find one another and agree on terms, funds flow, and accounts payable and receivable departments interact
Basis, an AI-powered accounting startup, has raised $34 million in a Series A funding round led by Khosla Ventures, with participation from Better Tomorrow Ventures, BoxGroup, Avid Ventures, and NFDG. Angel investors include Google Chief Scientist Jeff Dean. Basis aims to enhance accountant productivity by automating repetitive tasks. The funding will support hiring and product development. The platform is already used by several top 100 U.S. accounting firms.
Artificial intelligence (AI) is poised to change the accounting industry, according to a new report from venture capital firm Andreessen Horowitz. As large language models (LLMs) continue to advance, AI is becoming a crucial component in various sectors, with accounting firms particularly eager to harness its potential to enhance efficiency and manage increasing workloads. The integration of AI in accounting is not surprising. Bookkeeping, tax preparation, and auditing involve repetitive tasks that can benefit from AI. The accounting profession faces a dual challenge: an aging workforce and a decline in new entrants. The report states, “75% of CPAs could retire in the next 10 years.” Additionally, the decreasing number of students completing accounting degrees in the U.S
Basis, an AI platform for accounting firms, has emerged from stealth with a $3.6 million seed round led by Better Tomorrow Ventures.
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Industries
Fintech
Cybersecurity
Company Size
11-50
Company Stage
Series A
Total Funding
$37.6M
Headquarters
New York City, New York
Founded
2023
Find jobs on Simplify and start your career today