Maximor has exited stealth with $9 million in seed funding and a mission to replace finance teams’ reliance on Excel through the use of AI agents.
The company was founded by Ramnandan Krishnamurthy (CEO) and Ajay Krishna Amudan (CTO), both of whom previously helped overhaul Microsoft’s internal revenue systems. Their experience at Microsoft drew the attention of high-profile angel investors, including CFOs and finance leaders from Ramp, Gusto, MongoDB, Zuora, and the Big Four accounting firms.
The round also included backing from Perplexity CEO Aravind Srinivas and Zuora CEO Tien Tzuo, alongside institutional investors Gaia Ventures and Boldcap.
“Every month, finance teams spend nights and weekends pulling data from fragmented systems, reconciling accounts, parsing contracts, and building reports — all by hand. ERP migrations promise transformation but still leave teams stuck in spreadsheets, chasing the close. Finance leaders don’t want disruption. They want business-as-usual, just without the busywork,” Maximor said in its announcement.
“With this funding, we’re doubling down on product development across key controllership workflows. We’re expanding our engineering and AI research teams, and partnering with more finance leaders to prove that finance doesn’t need to be trapped in busywork,” it added.
A challenge to Excel’s crown
Maximor is targeting mid-market enterprises with $50 million or more in revenue, offering support for both GAAP and IFRS accounting standards. The 18-person team, split between New York and Bengaluru, is aiming to capture this overlooked market segment.
The platform integrates directly with existing enterprise systems — including ERPs, CRMs, billing platforms, payroll solutions, and banks — to automate financial operations. Its AI agents handle traditionally manual, resource-heavy tasks such as account reconciliation, journal entry preparation and posting, contract parsing for revenue allocation, close checklists, flux analysis, and generating audit-ready reporting packages.
Instead of spending days assembling figures and managing repetitive workflows, finance teams can offload preparation to AI and concentrate on reviewing exceptions. Every output is designed to be traceable and compliant for audits.
Maximor’s pitch comes at a pivotal moment. Three out of four accountants are nearing retirement, while the number of new CPAs has dropped by 30% over the last decade. At the same time, finance teams face growing complexity from multi-entity structures, usage-based pricing, and increased audit demands. For Maximor, throwing more headcount at the problem is no longer sustainable — automation must scale where people cannot.
The broader market seems to be moving in that direction. Four months ago, Microsoft CEO Satya Nadella forecast that AI agents would eventually replace all traditional business software. More recently, data showed that companies are already saving $400 million annually with AI agents, with some cutting operating costs by as much as 35%.
The post Ex-Microsoft Execs Launch AI That Could Kill Excel appeared first on eWEEK.
No Responses