TLDR: AI startup Nominal has successfully raised $20 million in Series A funding, bringing its total capital to $30 million. The company aims to combat the significant shortage of accountants by deploying AI agents that automate complex financial tasks, transforming traditional ERP systems into intelligent operational platforms for mid-market and enterprise companies.
Nominal, an innovative AI-native enterprise resource planning (ERP) startup, has announced the successful closure of a $20 million Series A funding round. This latest investment, led by Next47 with significant participation from Workday Ventures, Bling Capital, and Hyperwise Ventures, elevates Nominal’s total funding to $30 million. The capital infusion is earmarked to accelerate the development and expansion of its AI-powered finance automation platform, directly addressing the critical shortage of accounting professionals.
The company’s mission is particularly timely, given the current landscape where over 300,000 Certified Public Accountants (CPAs) are reportedly missing from the U.S. workforce. This deficit, coupled with the limitations of legacy ERP systems that struggle to keep pace with modern finance’s speed and complexity, creates a significant operational challenge for businesses. Nominal aims to bridge this gap by offering a ‘system of intelligence’ rather than just a system of record.
Guy Leibovitz, CEO and Co-founder of Nominal, emphasized the transformative potential of their technology, stating, ‘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. Finance superintelligence means fewer errors, better insights, stronger compliance, and smarter decision-making.’ Leibovitz also highlighted that the last major shift in the ERP market occurred 25 years ago with cloud adoption, and now the AI era is poised to redefine financial operations.
Founded in April 2023 by second-time AI entrepreneurs Guy Leibovitz and Golan Kopichinsky (CTO), who previously sold their company Cognigo to NetApp in 2019, Nominal brings a proven track record in AI and data security. The company’s platform leverages AI agents to automate core accounting functions such as intercompany reconciliation, journal entry management, multi-entity consolidation, and general ledger transaction matching. These intelligent agents integrate seamlessly with existing ERP infrastructures, allowing finance teams to reduce manual work, accelerate month-end close processes, and enhance accuracy.
Nominal reports impressive early results, having already saved finance teams over 50,000 hours of manual accounting work. This efficiency allows finance professionals to shift their focus from tedious spreadsheet tasks to more strategic decision-making and analysis. The company currently employs approximately 40 individuals, split between Israel and the U.S., with plans to double its workforce in the coming year to support its rapid growth.
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The market opportunity for Nominal is substantial. The ERP market is valued at $220 billion and is expanding at an annual rate of 17%. A recent Morgan Stanley report indicates that approximately 20% of this growth is expected to gravitate towards innovative, AI-native solutions like Nominal. Furthermore, with half of Chief Information Officers (CIOs) planning ERP system upgrades within the next two years, the landscape is ripe for disruption by advanced automation technologies.
