Accrual raises $75 million

Accounting platform Accrual announced its launch and $75 million in funding to bring AI-native automation to accounting firm preparation and review workflows. The round was led by General Catalyst, with participation from Pruven Capital, Edward Jones Ventures, and a group of industry executives and founders.

Founded in 2024, the San Francisco-based startup leverages AI agents that function as a preparer, reading and organizing all client inputs, identifying missing information, generating targeted follow-up questions, and producing draft returns that are ready for professional review. Data is structured as it enters the system, allowing preparation, review, and client guidance.

Today, Accrual is focused on individual tax returns. The platform handles real-world inputs including complex K-1s and 1099s, spreadsheets, emails, photos, and multi-hundred-page statements. It integrates directly with existing tax engines to support prior-year data, carry-forwards, and final filing workflows, allowing firms to continue using the systems they already use.

“Accounting is a deeply interconnected system, yet most software treats it as a collection of disparate tasks. We are building core infrastructure from the ground up to unify these workflows into a single system that amplifies judgment and compounds a firm’s expertise over time.” – Cosmin Nicolaescu, CEO and Co-Founder of Accrual.

“Accounting is one of the largest and most critical professional services markets in the world, yet its core workflows have remained largely unchanged for decades. Cos and Sidd have spent their careers building software for complex, highly regulated environments and we believe are the right team to rebuild these systems using AI without compromising the trust the profession depends on.” – Marc Bhargava, Managing Director at General Catalyst.