Synthetic Raises $10M to Transform Bookkeeping With AI Agents

San Francisco startup Synthetic has raised $10 million in seed funding led by Khosla Ventures to build a fully autonomous AI bookkeeping service for software startups.

Synthetic, an AI-powered bookkeeping company, announced Wednesday it has raised $10 million in seed funding. Khosla Ventures led the round. Basis Set Ventures also participated, along with a group of high-profile operator-investors.

Those investors include Tobi Lütke, CEO of Shopify; Kaz Nejatian, CEO of Opendoor and former COO of Shopify; Zach Abrams, co-founder of Bridge, which Stripe acquired for $1.1 billion; Cosmin Nicolaescu, CEO of Accrual and former CTO of Brex; and Michael Tannenbaum, CEO of Figure and former COO of Brex.

Unlike most accounting software, Synthetic employs no human bookkeepers or accountants at all. Instead, the platform connects directly to a startup’s bank accounts, payroll systems, billing tools, and email inboxes. It then asks targeted questions to understand each business’s financial context. After that, it produces clean, accrual-basis books the kind a tax preparer can use right away.

The company is targeting software startups, SaaS companies, and AI businesses exclusively. It is currently working with a small group of early design partners to test and refine the system before a broader release. What makes Synthetic unusual is not just what it does it is how candidly its CEO talks about the risks.

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Ian Crosby, founder and CEO of Synthetic, co-founded Bench Accounting in 2012. He scaled it into the largest bookkeeping service for small businesses in North America, serving tens of thousands of customers. However, Bench collapsed in late 2024.

You have a large, valuable problem that will inevitably be solved by AI. A founder who’s spent multiple decades working on the problem with near-perfect founder-market fit, resilience and grit that’s been forged through multiple founding experiences and scale-ups at companies like Shopify and Mercury. What more can one really ask for here?
Jon Chu of Khosla Ventures.

The company ultimately wants to automate the entire process of launching a software company. That means handling incorporation, banking setup, payment infrastructure, accounting, and other foundational business functions all without human involvement.

Synthetic will use the funding to advance its product prototype. It will also expand its in-person engineering team in San Francisco and continue improving its AI quality-control systems. The company is currently hiring engineers globally and says it will sponsor visas for qualified candidates. Open roles are listed at jobs.ashbyhq.com/synthetic.

As of now, the platform remains in early testing. Crosby says the company will not release the product publicly until it can demonstrably outperform human bookkeepers in accuracy. When that happens whether in six months or six years the accounting industry may look very different.

Disclaimer: This news is based on publicly available information. NervNow has not independently verified any claims.

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