[London, February 19th, 2026] — Stacks, the agentic platform for enterprise finance, has raised a $23M Series A led by Lightspeed, with EQT Ventures, General Catalyst, and S16VC doubling down. The round comes less than a year after Stacks’ $12 million seed financing led by General Catalyst, underscoring the company’s rapid traction and momentum.

Finance is emerging as the next major enterprise function to be rebuilt with AI. After multibillion-dollar businesses in customer support and legal, the shift is now moving into finance, one of the most labor-intensive cost centers for large companies.

Since emerging from stealth less than a year ago, Stacks has onboarded more than 30 enterprise customers globally, saving finance teams over 100,000 hours annually by automating reconciliations, journal entries, and the month-end close.

Building the Financial Data Layer for AI

Fragmented data remains one of the biggest structural barriers in enterprise finance. Transaction-level detail is scattered across ERPs, spreadsheets, data lakes, and legacy systems, forcing teams into manual workarounds because core platforms are slow, difficult to integrate, and not built for AI.

As a result, finance teams spend more time reconciling numbers than operating with real-time visibility.

Stacks built its platform by solving this foundation first. The company developed a data layer that connects directly to finance systems and creates a single, consistent financial view across them. It has also built deterministic machine-learning tooling required to make automation reliable at enterprise scale. On top of that foundation, Stacks has deployed agents that automate operational workflows across the finance stack, delivering materially better speed, accuracy, and leverage to finance teams.

“Stacks is uniquely positioned to tackle some of the toughest challenges in enterprise finance,” said Alex Schmitt, Partner at Lightspeed. “The team’s mix of technical and finance expertise from Uber and Plaid, along with the company’s remarkable traction, gives us strong conviction that they will lead the AI shift inside the Office of the CFO.”

Finance Teams Report Immediate ROI

Stacks is already delivering strong results in its first core module, monthly close, and we’re seeing growing adoption in day-to-day operational workflows.

“We slashed our monthly close time by eight days,” said JP, Global Head of Accounting at Nivoda. “Journal postings went from days to minutes, and we automated 95% of reconciliations.”

“We switched from a legacy provider we had used for years,” said Jessica Lindholm, Vice President of Accounting at Epidemic Sound. “Within weeks, we were benefiting from AI-powered automation for our financial close and reconciliations. The consumer-grade experience really stood out. We are now looking into the capabilities of their AI agents.”

Stacks Expands Beyond Close Automation Into Reporting

With its data foundation in place, Stacks is expanding into financial intelligence.

The company today introduced a new reporting and analysis suite aimed at moving finance teams beyond manual reporting and toward automated business explanation.

At the center of the launch is AI Flux Analysis, a product that automates variance analysis and replaces spreadsheet-based commentary with explainable, account-level investigation. Flux identifies variance drivers across transactions, pulls historical context across periods, and generates explanations that finance teams can review and refine.

Stacks is also introducing a leadership-ready executive summary, which represents the first layer of a broader intelligence suite for enterprise finance.

From Close Automation to End-to-End Agentic Finance

Stacks is targeting both the $100 billion Office of the CFO software market and the far larger labor spend still powering enterprise finance with an AI-native platform built from the ground up. The close and reconciliation space remains dominated by incumbents like BlackLine, HighRadius, and OneStream, whose aging systems are costly to deploy and poorly rated by customers.

“We started with the most manual and foundational workflows in finance: accounting and the close,” said Albert Malikov, Founder and CEO of Stacks. “From day one, we focused on solving the core problem: fragmented data. By building an AI-ready data layer, we’re unlocking what’s needed to bring AI agents into operational finance, shifting CFO teams from process execution to higher-value analysis and decision-making.”