Light uses artificial intelligence to automate the financial and invoice functions of companies.
Light
The Danish startup Light is the latest in a number of European technology companies that collect cash, while risk capital providers are looking for artificial intelligence after the next big thing.
Light was founded in 2022 and developed software that automatically with AI various functions that are available in the financial teams of the companies, including accounting, accounting and financial reporting.
The Copenhagen main company announced CNBC that it collected $ 30 million in a series-A-financing round of Balderton Capital in an early investor in Fintech Unicorns Revolut and Gocardless.
Atomico, Cherry Ventures, Seedcamp and Entrée Capital have also invested in the round, together with Angel investors, including the co-founder of Face, Thomas Wolf, and the co-founder of Face Meta Board member Charlie Songhurst.
Light plans to use the money to double the business “twice on the commercial side” of the business, Jonathan Sanders, CEO of Light and co -founder, told CNBC. The startup recently opened an office in London and plans to open one in New York to satisfy the US demand.
Light is not the only startup used to optimize the financial and accounting processes of the companies.
Pigment, a platform for planning and forecast, which is more user-friendly than Microsoft Excel Konterer, brought in $ 145 million in the past year with an assessment north of $ 1 billion. Recently, Pennylane startup from Accounting Software increased 75 million euros (88.4 million US dollars) and doubled its evaluation to 2 billion euros.
The market for software is currently being helped to manage their finances MicrosoftPresent oracle And JUICE. However, these systems can often be cumbersome and require the specialists to make them on the edges for a year or two, just to get them up to date. “
“We quickly serve growing, quickly scaling companies that need a system where you can expand very quickly,” Sanders told CNBC. Light customers include lovable, which recently worth 2 billion US dollars worth 2 billion US dollars, which is acquired from a working day for $ 1.1 billion.
According to Sanders, AI can quickly change how companies deal with their finances. “The future of the numbers is text,” he says. Instead of searching the company guidelines, for example, to find a team's food allowance, this can be automated by a AI agent that has access to the corresponding documents.
In the future, Light would like to focus on large customers at the company level who, according to Sanders, have to deal with “broken processes and workflows”. “No human team can continuously analyze thousands of pages with guidelines for coherence, bring themselves into harmony and update,” he told CNBC.
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