Last Updated: 7 May 2026
Fazeshift, a San Francisco startup founded in 2023, has built AI agents that handle accounts receivable from start to finish: generating invoices, chasing payments, reconciling transactions, and communicating with customers. The company was co-founded by Caitlin Leksana and Timmy Galvin, and its pitch is simple. Finance teams spend too much time on work that software should already be doing.
Accounts receivable, or AR, is how companies track and collect what customers owe them. It sounds straightforward. In practice, most AR teams are still working across spreadsheets, email chains, and a patchwork of disconnected systems, pulling data from CRMs, ERPs, and payment portals to get through tasks that pile up daily. The global AR automation market sits at over $4.6 billion in 2026 and is projected to exceed $8.3 billion by 2030, growing at a compound annual rate of 15.8 percent, according to Research and Markets.
Fazeshift has raised $22 million in total. That includes a $17 million Series A announced this week, led by F-Prime Capital, with participation from Gradient Ventures (Google's early-stage AI fund), Y Combinator, Wayfinder Ventures, Pioneer Fund, Ritual Capital, and a group of angel investors.
Other parts of corporate finance have modernized significantly over the past decade. AR has not kept pace. Accounts payable, the process of paying what a company owes, can be standardized internally because the company controls the workflow. AR is messier. Every customer comes with its own set of requirements: a specific invoice format, a proprietary submission portal, particular attachments. What works for one customer will not work for another, and those differences have to be managed manually at scale.
The core difficulty is not just the volume of work. It is the coordination required across systems that were never built to communicate with each other. Even companies with modern finance software find that AR still falls to people sitting at screens, logging into portals and checking whether payments have landed.
"Revenue operations sit at the heart of every business, yet Accounts Receivable remains one of the most manual and underserved areas in finance, even as other parts of the CFO stack have modernized. The first wave of AR software relied on rigid, rule-based systems that still required so much manual intervention. With the rapid advancements in LLM and agent capabilities, Fazeshift is going after a massive, largely untapped opportunity with true automation thanks to its context and action layer that transforms financial workflows."
Rocio Wu, Partner at F-Prime
The new capital will go toward product development, expanding the sales and go-to-market team, and bringing in more enterprise customers. Beyond accounts receivable, Fazeshift has a longer-term goal of expanding into what it calls an autonomous CFO Suite, a broader set of finance operations where AI handles day-to-day execution and people shift into oversight and strategic roles.
The company has posted early numbers worth noting. Revenue has grown 12 times over the past year. Fazeshift says it automates more than 90 percent of manual AR tasks for its customers. On a single day, it processed over 9,000 customer communications. One customer collected $7.4 million in outstanding payments within weeks of deploying the platform.
Leksana and Galvin did not arrive at this problem by studying it from a distance. Before Fazeshift, Leksana ran a crypto marketing automation startup and worked for two years as a consultant at BCG. Galvin spent seven years as a nuclear submarine officer in the US Navy, holds two computer science degrees from MIT, and an MBA from Harvard Business School. The two met at HBS. Their lightbulb moment came while running an earlier startup together, when managing AR for just a handful of customers already felt broken.
Fazeshift does not ask companies to rip out their existing tools. It sits on top of whatever systems a finance team already uses: ERPs, CRMs, payment platforms, email. From there, it takes over the full AR workflow, generating invoices, matching payments, handling collections, sending customer communications, and updating records across systems without manual input. The platform serves dozens of enterprise customers, including eight companies valued at over a billion dollars. Named customers include Sigma Computing, Snyk, Meter, and Clipboard Health.
"Finance teams are still spending days reconciling a single payment across hundreds of invoices, or logging into portals over and over just to check if something has been posted. This is critical work that remains largely unsolved by software. Fazeshift changes that by operating these workflows directly with AI, starting with accounts receivable, and helping teams transition to an AI-native way of working."
Caitlin Leksana, CEO and Co-Founder of Fazeshift
Fazeshift's total funding of $22 million includes a $4 million seed round from January 2025, led by Gradient Ventures with Y Combinator participating. The Series A followed after the company completed Y Combinator's Summer 2024 batch. F-Prime Capital, which led the Series A, manages over $5.3 billion and backs more than 400 companies across AI, fintech, and frontier technology. Gradient Ventures is Google's dedicated early-stage AI fund. Y Combinator has remained involved since the seed stage.
