Stacks, a London-based enterprise software company, has raised $23 million in Series A funding to build an agentic AI platform that automates finance operations for large businesses.
Lightspeed led the round, with General Catalyst, EQT Ventures, and S16VC also participating. The raise comes less than a year after the company closed a $12 million seed round, signaling strong and consistent momentum.
Founded by people with backgrounds at Uber and Plaid, Stacks builds automation tools for enterprise finance teams. Today, most of these teams spend the bulk of their time moving data between ERPs, spreadsheets, and accounting platforms rather than making decisions. Stacks fixes that by connecting all those systems in one place and letting AI agents handle the repetitive work.
Winning Investor Trust in a Cautious Climate
Stacks closed this round after onboarding 30 enterprise customers in under a year, including Pleo, Cleo, and Bloom & Wild. The company also reports saving finance teams over 100,000 hours annually through automated reconciliations and month-end close processes. Investors saw those numbers and took notice.
Still, this deal reflects a broader shift in how investors approach enterprise AI. Today, strong fundamentals and real customer adoption matter more than big growth promises. Stacks delivered both, which helped the round come together despite a cautious market.
How Stacks Built the Platform
Stacks built its platform by solving the data problem first. The system connects directly to existing finance tools and creates one clean, consistent view across all of them.
From there, AI agents step in to handle tasks like reconciliations, approvals, variance analysis, and month-end reporting automatically. Additionally, every action the agents take produces a full audit trail, giving finance teams complete visibility and control.
Notably, the company recently launched AI Flux Analysis, a reporting tool that replaces manual spreadsheet commentary with automated, account-level investigation. Early users report cutting reporting cycles from days down to minutes.
What the Funding Means Going Forward
Stacks competes in a market currently dominated by older platforms like BlackLine, HighRadius, and OneStream, which carry high costs and growing customer frustration.
This new funding positions the company to grow its team, expand its product, and reach more enterprise customers faster.
Ultimately, the raise sends a clear message. In 2026, companies that solve real problems with solid technology will keep attracting capital. Stacks has shown that getting the foundation right, before layering in intelligence, is the right way to build enterprise AI that lasts.
