An AI-powered startup called LiveFlow was founded by former employees of Revolut, Anita Koimur and Lasse Kalkar. The startup has recently raised $13.5 million in funding. LiveFlow allows companies to automate their accounting processes by syncing real-time data from various financial platforms into custom reports, streamlining workflows, and promoting company-wide collaboration.
In recent years, there has been a significant decline in the number of accountants in the U.S. as enterprise platforms and AI technology begin to automate traditional accounting tasks. LiveFlow aims to make accounting firms more efficient while still valuing the role of accountants in providing a sense of security to small businesses.
The startup plans to utilize AI technology to enhance accounting processes, although specific details about the AI they will use remain undisclosed. Despite facing competition from other similar platforms like Fathom and Reach Reporting, LiveFlow has managed to secure a Series A funding round led by Valar Ventures, co-founded by Peter Thiel.
With the addition of former Web Summit engineering lead Evan O’Brien to their team, LiveFlow is now focusing on expanding its operations in the U.S., with a particular emphasis on helping accounting firms and businesses improve their advisory services. The company has already attracted notable clients such as BDO, KLR, Wendy’s, and Crumbl Cookies.
LiveFlow’s newest product, LiveFlow Next, aims to save time and reduce human error in accounting processes, making it a valuable tool for accounting firms and businesses. While competitors like Fathom and Reach Reporting exist, LiveFlow stands out as a venture-backed startup with a strong focus on leveraging AI technology to enhance accounting practices and support accountants in their roles.
