Materia Secures $6.3 Million in Funding

by Kay Aloha Villamor in June 21st, 2024

Materia, a New York-based comprehensive generative AI platform built for public accounting firms, has launched with over $6.3 million in funding.   


The round was led by Spark Capital, with participation from Haystack Ventures Thomson Reuters Ventures, Exponential Founders Capital, and the Allen Institute for AI.  

Founded in 2005, Spark Capital is a venture capital investment firm based in San Francisco, California. The firm invests in products they love by creators they admire across all sectors and stages and work out of San Francisco, Boston, and New York City.  

About Materia   

Founded by Kevin Merlini and Lucas Adams provides a generative AI platform for accounting. They leverages AI to automate tedious tasks, enhancing productivity and decision-making. Materia’s AI platform consolidates firms’ internal knowledge into a secure Knowledge Hub, creating an organized enterprise search layer that bridges engagement data silos. Its AI Assistant and Document Analysis Workspace leverage this Hub to deliver reliable answers based on proprietary knowledge and authoritative accounting standards.   

Funding Details                  

Company: Materia  

Raised: $6.3M+                 

Round: Unknown  

Funding Month: June 2024                               

Lead Investor: Spark Capital   

Additional Investors: Haystack Ventures Thomson Reuters Ventures, Exponential Founders Capital, the Allen Institute for AI  

Company Website:  

Software Category: Accounting  


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