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Federal agencies have reported an estimated $2.8 trillion in improper payments since 2003. Some from fraud, some error. But all the result of manual and fragmented financial systems. Today, those teams are invited to the future. This is Ramp for Public Sector. A product with dedicated environments for FedRAMP...

31,632 Aufrufe • vor 6 Monaten •via X (Twitter)

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120 hours of finance busywork cut to 18 in one month. I’m Wesley. We run a small finance team that handles books, invoices and reports for our company. People waited on bank data. Accountants waited on receipts. Approvals sat in inboxes. Month-end always slipped because nobody had the full picture of where every number stood. We kept adding spreadsheets, checklists and extra meetings. The work stayed just as messy. Everything changed when we brought Viktor into Slack and gave him ownership of our Finance Operations workflow. He collected every incoming invoice, matched payments to the bank, tracked every expense, chased missing receipts, flagged mismatches, updated the cash position and packaged the weekly report before anyone had to ask. The books kept moving because someone finally owned them from start to finish. Over one month he processed 142 invoices, reconciled 87 bank transactions, tracked 56 expense reports, chased 31 missing receipts, flagged 9 discrepancies, updated the cash position 20 times and prepared 12 weekly finance packs. What used to take 120 hours of manual chasing became 18 hours of human review. The biggest difference wasn’t faster closes. It was that our finance people finally spent their time on the numbers instead of chasing them. How much of your team’s week goes to the work around the work, not the work itself? Hire Viktor for your team. $100 in credits included, no card. Full link in first comment. Paid Partnership

Wesley

71,884 Aufrufe • vor 1 Monat

There are two non-negotiables in accounting: the books must be correct, and they must be ready on time. For decades, companies have satisfied those constraints through an extraordinary amount of manual effort. Highly trained professionals code transactions, re-approve familiar expenses, reconcile mismatches after the fact, and compress all of it into the ritual of month-end close. It works. But it is fundamentally retrospective. Today, Ramp is introducing an Accounting Agent designed around a different premise: what if bookkeeping happened as the business operated, rather than after it? The agent captures, codes, reviews, validates, accrues, and reconciles spend continuously. It learns directly from the people who understand the nuances best, the accounting team itself, and applies that context in real time. At Perplexity, where velocity is part of the company’s identity, this has allowed their team to stop choosing between speed and accuracy. The majority of transactions are now coded automatically while remaining audit-ready, enabling close to start on day one instead of day thirty. What’s been most striking is how the system learns the subtle, company-specific logic that historically lived only in human judgment. As Jim Romano, CFO at Stateside Vodka, described it, the agent is already identifying patterns like when spend belongs in samples rather than travel and entertainment — the kinds of decisions that typically require institutional memory. As he put it, the goal is simple: finance teams should focus on exceptions, not the easy stuff. We’re also seeing the second-order effects emerge quickly. Teams report spending dramatically less time reviewing transactions and substantially more time on planning, analysis, and growth. As one CFO told us, “What used to take hours of manual review now happens automatically. I’m spending nearly all of my time thinking about where the business should go, not retracing where it’s already been.” There is a broader shift underway in accounting. The central question is moving from “what parts of close can be automated?” to “should close even be a discrete event at all?” One belief that increasingly guides our work at Ramp is that information latency inside companies is an invisible tax. When financial truth lags behind operational reality, organizations make slower and often worse decisions. As transaction data becomes inherently digital and systems become capable of learning institutional context, continuous close stops being aspirational and starts becoming inevitable. One thing that surprised us while building this: accounting isn’t constrained by a lack of rules — it’s constrained by how many of those rules are unwritten. Much of financial operations lives in patterns that experienced teams simply know. Seeing software begin to absorb and apply that tacit knowledge has been one of the clearest signals that accounting is entering a new phase. Accounting has always been the record for business reality. Our goal is to help it become something closer to real-time truth. Proud of the team, and grateful to the customers building this alongside us.

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Star_OKX

51,345 Aufrufe • vor 2 Monaten

Every Wall Street giant that owns an AI data center is suddenly looking for a buyer. And NONE of them want to be the last one holding it. Three of them made their move in the last two weeks: Vantage Data Centers is exploring an exit. Its owners, Silver Lake and DigitalBridge, are weighing a listing at around $100 billion, or a sale, or a stake sale. It would be the largest data center IPO ever done. Three days earlier, CyrusOne started the same process. KKR and Global Infrastructure Partners met Goldman Sachs and Morgan Stanley, and the banks pitched for roles on a listing that could come as early as 2027. Last month, Switch hired Goldman and JPMorgan to take it public at close to $80 billion including debt, possibly by the fourth quarter. Three different companies moved inside the same 14 days, and the same handful of investment banks took every call. And these are the exact same firms that BOUGHT these companies off the public market four years ago. Between June 2021 and early 2022, private equity took the data center industry private. Blackstone bought QTS. KKR and Global Infrastructure Partners took CyrusOne private in a deal worth about $15 billion. DigitalBridge and IFM took Switch private for about $11 billion. Together those deals ran past $35 billion. By 2023 there were only two pure-play data center companies left on the public market. The logic at the time was that data centers burn cash for years before they pay, and public shareholders hate that. But private money was patient, and private money could wait. Four years later, the AI boom arrived and every one of those buildings became a gold mine. So follow this: Switch went private at about $11 billion in 2022. Its owners now want close to $80 billion for it. That is roughly 7x, in four years, on the same buildings. And DigitalBridge sits on both sides of this. It owns a piece of Vantage and it took Switch private. It is now looking for the door on BOTH. The question now is who is supposed to buy. There is no bigger private buyer left to sell to. These are already the largest infrastructure funds on Earth, and the price tags now run to $100 billion. The only pocket deep enough is the public market, which means anyone with a brokerage account or an index fund. The people who bought low from the public are now organizing to sell high back to the public. And they are doing it while telling everyone the buildout is just getting started. KKR raised a record $19.2 billion for its newest infrastructure fund this month, and in June launched a separate company with over $10 billion committed to finance more construction. So one hand raises fresh billions to build more data centers, and the other hand sells the finished ones to whoever will take them. None of this proves anyone thinks the boom is ending. Selling into strength is what these firms are paid to do, and every one of these deals is early stage and might never happen. But the timing tells you something: The most sophisticated infrastructure investors alive spent four years accumulating these assets in private, and all decided in the same two weeks that now is the moment to find someone else to own them. Four years ago these firms decided the public market was too impatient to own data centers. Now they want the public market to own them again, at 7x the price. Quite suspicious.

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Blaze

29,917 Aufrufe • vor 4 Monaten

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Doris Yin 东方紫莲🪷🪷🪷

19,892 Aufrufe • vor 7 Tagen

I’m excited to share that we’ve raised a $70M Series B, led by a16z and ICONIQ - bringing our total funding to over $100M in under a year. Accounting is a $500B category, and yet most finance teams are still running on systems built in the 90s. Rillet is rebuilding the financial core of modern companies. We’ve rebuilt the general ledger from the ground up to assemble the first AI-native ERP, built for speed, flexibility, and automation. Since coming out of stealth ~12 months ago, we’ve grown lightning fast. We now power the finance stack behind companies like Postscript, Windsurf (retired), Decagon, Bitwarden and many more across many industries. Windsurf scaled revenue 10x while running global finance with just two people and Rillet. Postscript, with over $100M in ARR and four entities, now closes their books in three days. These are the kinds of results we hold ourselves to. We’ve also partnered with some of the largest and best accounting firms in the country, including Armanino, Wiss Labs and Attivo. The whole industry has been begging for change for decades. With Rillet, it’s here. This round came together very quickly. The first call happened while I was eating a tuna sandwich in SF (I did not finish it). Three days later, we had a signed term sheet. It was a reflection of the momentum we’re seeing both in the product and in the market. Since announcing our Series A just weeks ago, we’ve already doubled our ARR. None of this would be possible without our team of accountants and engineers. A few months ago, I was still jumping on support calls to help customers. Today, our implementation, success, and product teams are delivering outcomes with the same speed and care that got us here. We originally booked an offsite to celebrate the Series A. In classic Rillet speed fashion, it’s now an A + B celebration. It’s proof of how fast things can move when customers love the product and a reminder of how much this team has earned the chance to celebrate together. We’re fortunate to welcome a16z and ICONIQ to the table. Alex Rampell, Seema Amble, Marc Andrusko and Seth Pierrepont, Sarah bring clarity, urgency and deep conviction about the future of AI and finance. We’re also grateful to have continued support from our early partners Sequoia Capital, First Round, Creandum who believed in us from the start, and excited about working with Oak HC/FT and FOG Ventures. To the Rillet team, again - thank you for building with care, focus, and speed. To our customers - thank you for pushing us, trusting us, and helping shape the product. We are honored to serve you. Let’s go!

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258,731 Aufrufe • vor 1 Jahr

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