AI accounting startup Sumary raises $25m seed | Sifted

Sumary, an AI-native accounting platform, has raised $25 million in a seed round led by Singular, with participation from Lightspeed and others. The startup, founded by former KPMG and PwC staff including CEO Marcus Holm, aims to automate bookkeeping and compliance work for accounting firms and in-house finance teams. Sumary claims its AI agents can handle tasks currently done by junior accountants, targeting a market where firms struggle to hire enough qualified staff. The company plans to use the funding to expand its product and grow its team, though it has not disclosed current customer or revenue figures. The raise reflects growing investor appetite for AI tools that automate professional services workflows, a space where rivals such as Pennylane and Pilot are also competing.