uiAgent has secured $4.6m in a seed funding round to expedite the expansion of its automation technology across accounting companies and large-scale enterprises.
The round was spearheaded by Marathon Management Partners, with Rerail also contributing.
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uiAgent CEO and founder Enes Witwit said: “Accountants are working excessive hours, sacrificing work-life balance, and as a result, client response times are increasing, client satisfaction is declining and the quality of deliverables is suffering.
“uiAgent was built to empower these accountants – not with complex, lengthy implementations, high set-up costs, or data shared across multiple third-party providers – but with a fast, seamless solution delivered in a fully secure, private environment.”
Based in New York, uiAgent’s platform is engineered to assist accounting practices by automating routine tasks within client accounting services, tax and audit workflows.
As a result of the investment, Chase Packard from Marathon Management Partners will join the Board of Directors of uiAgent.
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By GlobalDataPackard stated: “Enes and his team saw this coming and built a powerful platform to help firms adopt AI quickly, securely and with measurable impact.
“In less than a year, they have achieved seven figures in ARR [annual recurring revenue], are working with numerous top 100 firms, and are saving clients thousands of hours annually. We are fortunate and thrilled to partner with them.”
uiAgent’s platform supports both local and cloud-based deployments.
It includes a library of AI agents that target essential processes in audit and client accounting services.
The platform reported an 80% decrease in manual data entry, a 25% quicker monthly close, a 35% reduction in time taken for employee benefit plan audits and full automation of journal entry production, the company press release said.
