Meet Quanta: A lightning-fast, precision accounting service powered by AI and created by finance pros

I’ve spent the majority of my career as an engineer building financial systems. I've built credit cards, different types of loans, and in-house accounting ledgers, all from the ground up. A theme across those years was the painful shortcomings of traditional accounting software, which made it nearly impossible to answer seemingly basic financial questions without an immense amount of bespoke work. I provided those answers through engineering custom ledgers, but always relied on some human input. Now, with recent breakthroughs in AI, we can automate processing data that previously required human interpretation. My experience—and this pivotal time in technology—inspired me to create Quanta: a lightning-fast, precision accounting solution that stays up-to-date, validates itself, and answers crucial business questions.

I’ve been joined by an incredible team that has engineered financial systems at Stripe and Affirm, and led accounting teams at Notion and Intercom. We’ve been heads down building Quanta for well over a year now, and we are grateful to the dozens of paying customers who participated in our beta. Their trust and feedback validated our vision, and helped us build a system that 100x’s accountants' productivity to provide the best accounting service available.

Today, I’m thrilled to share further validation of that vision: Quanta’s $4.7M seed round led by Accel with participation from Designer Fund, Elad Gil, Basecase, Comma Capital, Operator Collective, Founders You Should Know, Homebrew, and more. We are also opening up our beta, making Quanta available today to any software business.

Quanta is not your typical accounting service. We took a product-first approach, building our own general ledger integrated into our AI-powered accounting engine. Instead of relying on outsourced bookkeepers, we committed to only working with customers for which our system could automate their routine tasks. This targeted approach means that Quanta offers:

• Lightning-fast delivery: Our accounting software keeps everything up-to-date in real-time, with rapid onboarding for quick starts.

• Unparalleled accuracy: Our accounting entries are automated, allowing for programmatic policy enforcement. We continuously run dozens of checks and reconciliations.

• Advanced revenue and accrual functionality: We’ve built deep financial integrations including Stripe, and a custom contract ingestion system to achieve sophisticated revenue recognition. All accrual schedules are built natively into Quanta.

• Expert strategic support: Customers don’t work with outsourced bookkeepers doing cheap manual labor, as is the status quo. Instead, they work with experts who have the time to focus on high-value work for clients, and are available via Slack.

Before Quanta, our users didn't receive a draft of their books until, on average, more than three weeks after the month ended—and many days more to get them finalized. This means they didn't see January 1st data until around February 28th, and sometimes even longer. Now, users tell us they use their up-to-date finances to be strategic multiple times a week.

While we’re already the fastest accounting service for software companies today, our long-term goal is to automate all non-creative business accounting work across many industries. Recently, 39% of accountants reported spending over half their day on manual tasks. All that manual work required to produce financials has made it a once-a-month process that can take many weeks, meaning metrics are always stale. Companies spend 1-6% of their entire gross revenue on accounting because it is so vital, while also incredibly labor-intensive. At Quanta, we see a future where finance teams need only do creative work: defining business models, crafting the most strategic policies, and asking the right questions about their company's financial health. Quanta will do the rest.

If you want to learn more about Quanta, visit us at usequanta.com. If you’re an early-stage business, our launch means you can now onboard and receive a draft of your finances in minutes, at any time of day or night. And we have a lot more in store for you soon.