TLDR: Nominal, an AI-native enterprise resource planning (ERP) startup, has successfully raised $20 million in Series A funding, bringing its total capital to $30 million. The investment, led by Next47 with participation from Workday Ventures and existing seed investors, will fuel the expansion of its AI agents designed to automate complex financial operations, significantly reducing manual work and enabling finance teams to scale efficiently.
NEW YORK CITY, NY – July 9, 2025 – Nominal, a pioneering AI-native enterprise resource planning (ERP) startup, today announced the successful closure of a $20 million Series A funding round. This latest investment elevates the company’s total funding to $30 million, underscoring strong investor confidence in its mission to revolutionize financial operations through advanced AI agents.
The Series A round was spearheaded by Next47, with significant participation from Workday Ventures. Existing seed investors, including Bling Capital, Hyperwise Ventures, Vela Partners, and Incubate Fund, along with private investors from prominent companies like Salesforce, Justworks, and Intel, also contributed to the round.
Founded in April 2023 by second-time AI entrepreneurs Guy Leibovitz (CEO) and Golan Kopichinsky (CTO), Nominal builds on their previous success with Cognigo, which was acquired by NetApp in 2019 for approximately $70 million. Their latest venture aims to address the persistent challenges of manual work and inefficiency within corporate finance departments.
Nominal’s innovative platform is described as a ‘system of intelligence’ rather than a traditional system of record. It deploys autonomous AI agents that perform complex financial tasks, working seamlessly alongside existing ERP systems as a ‘shadow general ledger’ without requiring lengthy migrations or expensive customizations. These AI agents are capable of transaction matching, balance sheet and bank reconciliations, multi-entity consolidation, variance analysis, and generating complex journal entries.
According to the company, Nominal’s AI agents have already delivered substantial efficiency gains, saving finance teams over 50,000 hours of manual accounting work in the past year alone. This automation allows finance professionals to shift their focus from tedious spreadsheet tasks to more strategic decision-making, enabling companies to accelerate month-end close processes and scale operations without the need for additional headcount.
Guy Leibovitz, CEO and Co-founder of Nominal, highlighted the transformative impact of AI on finance. “The last major shift in the ERP market happened with the move to the cloud 25 years ago. Since then, financial operations have become central to every company, especially at the mid-market and enterprise level,” said Leibovitz. “Now, the AI era is transforming how we operate across the board. Unlike traditional systems of record, Nominal is a system of intelligence. It doesn’t just manage work, it performs it. With over 300,000 certified public accountants (CPAs) missing from the U.S. workforce, agentic AI automation isn’t optional anymore, it’s a must.”
The market for ERP solutions is substantial, valued at $220 billion and growing at an annual rate of 17%. A recent Morgan Stanley report indicates that approximately 20% of this growth is expected to shift towards ERP startups and non-traditional players, with 50% of CIOs planning ERP system upgrades within the next two years, signaling a ripe environment for disruption.
Matthew Cowan, General Partner at Next47, commented on their investment, stating, “ERP platforms have long been a pillar for mid-sized to enterprise companies, but they’ve failed to adapt to the AI era and the rise of autonomous agents. Nominal’s AI-native approach brings modern capabilities to finance teams without forcing trade-offs, offering a seamless integration platform that serves companies across a wide range of industries.”
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Nominal currently serves dozens of enterprise and mid-market customers, including notable names like Jiffy Lube and GoGlobal Travel. With the new funding, the company plans to double its current workforce of approximately 40 employees, split evenly between Israel and the U.S., and further expand its AI agent capabilities and ERP integrations to meet growing demand.
