Enterprise finance platform Stacks raises €19 million to streamline reporting and month-end workflows

Stacks, a British enterprise finance platform, has recently announced a successful Series A round, raising €19 million ($23 million) to further develop their AI-driven reporting and analysis suite. Led by Lightspeed, with participation from EQT Ventures, General Catalyst, and S16VC, this round marks a significant milestone for the startup.

Founded in 2024 by former leaders from Uber and Plaid, Stacks aims to revolutionize enterprise finance by addressing the core problem of fragmented data. By building an AI-ready data layer, the company enables CFO teams to shift from process execution to higher-value analysis and decision-making.

With the rise of enterprise AI and adjacent data infrastructure, Stacks' funding round is part of a broader investment cycle in this field. Other companies, such as Agaton, Blockbrain, and SurrealDB, have also secured significant funding to advance their AI-driven platforms.

The company's success can be attributed to its unique position in tackling the challenges faced by enterprise finance teams. With a mix of technical and finance expertise, Stacks has gained traction among its 30+ enterprise customers globally. These include well-known companies like Volt, Motorway, Cleo, and Bloom & Wild, who have reported significant time savings and increased efficiency since implementing Stacks' platform.

One of the key barriers in enterprise finance is fragmented data, scattered across various systems, making it challenging to integrate and utilize effectively. Stacks has addressed this issue by creating a single, consistent financial view across all finance systems. Additionally, the company has developed deterministic machine-learning tools to ensure reliable automation at enterprise scale.

Stacks has also deployed AI agents that automate operational workflows, including reconciliations, journal entries, and the month-end close. This has resulted in significant time savings for finance teams, allowing them to focus on more critical tasks.

To further enhance their platform, Stacks has introduced a new reporting and analysis suite, with AI Flux Analysis at its core. This product automates variance analysis and replaces manual spreadsheet-based commentary with explainable, account-level investigation. It identifies variance drivers, pulls historical context, and generates explanations for finance teams to review and refine.

Moreover, Stacks has also introduced a leadership-ready executive summary, the first layer of a broader intelligence suite for enterprise finance. This enables finance teams to produce enhanced financial reports within seconds, significantly reducing the time spent on the monthly close.

With a successful Series A round and a growing list of satisfied customers, Stacks is set to continue its growth and revolutionize enterprise finance. Its innovative approach to solving the core problem of fragmented data has proven to be a game-changer for finance teams, and the company is well-positioned to lead the AI shift in the Office of the CFO.

Key takeaways from this article:

• Stacks, a British enterprise finance platform, has raised €19 million in a Series A round to further develop their AI-driven reporting and analysis suite.
• The company's success can be attributed to its unique position in addressing the core problem of fragmented data.
• Other companies in the enterprise AI and data infrastructure space have also secured significant funding, highlighting the growing interest in this field.
• Stacks' platform has been well-received by its 30+ enterprise customers globally, with significant time savings and increased efficiency reported.
• The company's new reporting and analysis suite, with AI Flux Analysis at its core, aims to automate variance analysis and replace manual spreadsheet-based commentary.
• Stacks' success in solving the fragmented data issue and streamlining finance workflows has positioned them as a leader in the enterprise finance space.