Safebooks has emerged from stealth and announced it raised $15 million in seed funding for its intelligent automation layer for quote-to-revenue finance operations.
The Agentic Revenue Integrity (ARI) layer provides continuous monitoring, reconciliation and artificial intelligence-powered automation, eliminating the need for manual reviews, reconciliations and data entry, the company said in a Tuesday (Dec. 9) press release.
The Safebooks platform reads documents in any format; validates they match what’s in the user’s customer relationship management (CRM), enterprise resource planning (ERP) and billing systems; catches discrepancies as they happen; and auto-remediates them, according to the release.
It works on top of users’ existing systems, processes and infrastructure, per the release.
“Finance teams spend most of their time on data integrity, ensuring revenue data matches across systems,” Safebooks Co-founder and CEO Ahikam Kaufman said in the release. “We built Safebooks to automate that work, using AI, as part of a deep data platform that understands how financial data, structured and unstructured, connects across the CFO’s entire tech stack.”
Safebooks is already being used by enterprises software-as-a-service (SaaS) companies, according to the release. Since its launch, the platform has monitored over $40 billion in financial transactions and eliminated thousands of hours of manual reconciliation, according to the release.
Yahal Zilka, managing partner at 10D, which led the seed funding round, said in the release that “every enterprise will need this layer to operate with confidence at scale.”
“AI is redefining how enterprises operate, and the Office of the CFO is the next domain to be transformed,” Zilka said. “Safebooks AI is building the foundational infrastructure for this shift, empowering large organizations to run on trusted, governed and continuously accurate financial data.”
The PYMNTS Intelligence, Bottomline and FIS collaboration “Time to Cash™: A New Measure of Business Resilience” found that AI models built on top of payment data can liberate finance teams from manual processes and reactive cycles, allowing them to focus on strategic interpretation.
The report also found that enterprises have automated 55% of their receivables on average, 70% of CFOs are using artificial intelligence to manage cash flow, and firms are prioritizing AI in their financial leadership strategies.
Source: https://www.pymnts.com/