TLDR: Nominal, an AI automation company founded by former Cognigo executives Guy Leibovitz and Golan Kopichinsky, has successfully raised $20 million in a Series A funding round. This investment, led by Next47 and Workday Ventures, brings their total funding to approximately $30 million. The company’s agentic platform aims to automate manual accounting tasks for CFOs, addressing the growing shortage of certified public accountants.
Nominal, a pioneering company developing AI agents for enterprise resource planning (ERP) systems, announced today it has closed a $20 million Series A funding round. This significant investment was co-led by Next47 and Workday Ventures, Workday’s investment arm, with additional participation from existing investors Bling Capital, Hyperwise Ventures, Vela Partners, Incubate Fund, and private investors from prominent companies including Salesforce, Justworks, and Intel. This latest round elevates Nominal’s total funding to approximately $30 million.
Founded in April 2023 by Guy Leibovitz, CEO, and Golan Kopichinsky, CTO, Nominal leverages the extensive experience of its founders, who previously built and successfully sold Cognigo to NetApp in 2019 for an estimated $70 million. The company currently maintains a workforce of around 40 employees, evenly distributed between its operations in Israel and the U.S., with ambitious plans to double its team within the next year.
Nominal’s core offering is an innovative agentic platform designed to seamlessly integrate with existing ERP systems. This platform empowers finance teams by automating a wide array of manual tasks, such as account reconciliations and financial analysis. The AI agents operate autonomously, capable of understanding complex business contexts and organizational policies without requiring extensive configuration, thereby streamlining financial operations.
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According to the company, Nominal’s AI agents have already demonstrated substantial efficiency gains, saving over 50,000 hours of manual accounting work for its clients. Guy Leibovitz emphasized the transformative impact of AI on the financial sector, stating, ‘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. 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.’ Leibovitz also highlighted the critical need for such automation, noting, ‘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. Finance superintelligence means fewer errors, better insights, stronger compliance, and smarter decision-making.’
