--- title: HiBid Cut Its Month-End Close From Three Weeks to One Day With AI Finance Platform Hyphenate description: Hyphenate, formerly Maximor, raised a $45M Series A led by Nexus Venture Partners as HiBid cut its month-end close from three weeks to one day. author: Darie Nani (Editor-in-Chief) date: 2026-10-27T13:13:39.983Z updated: 2026-10-27T13:13:39.995Z canonical: https://www.sovereignmagazine.com/article/month-end-close-automation-hyphenate image: https://cdn.nanimediahouse.com/hyphenate-founders-ajay-krishna-amudan-ramnandan-krishnamurthy.webp categories: Artificial Intelligence, Startups content_type: Spotlight region: New York publication: Sovereign Magazine about: - type: Organization name: Hyphenate description: Hyphenate, formerly Maximor, is a New York autonomous finance company whose AI agents run order-to-cash, treasury, general ledger accounting and close, procure-to-pay, and reporting on top of a company's existing ERP. It was founded in 2024 by Ramnandan Krishnamurthy and Ajay Krishna Amudan. url: https://hyphenate.ai/ industry: Financial software sameAs: - https://www.linkedin.com/company/hyphenateai - https://x.com/HyphenateAI - https://www.youtube.com/@hyphenateai --- HiBid, one of the largest online auction platforms in North America, has cut its month-end close from three weeks to one day after moving its invoicing, collections and cash application onto the AI agents of Hyphenate, the New York finance automation company. More than $2.5 billion in gross merchandise volume has passed through the automated process, which now runs as one continuous workflow. Hyphenate, which [changed its name from Maximor on October 1](https://www.sovereignmagazine.com/article/hyphenate-maximor-86x-revenue-growth), announced a $45 million Series A today, led by Nexus Venture Partners with B Capital and existing investors Foundation Capital, BoldCap and Gaia Ventures. The round brings its total funding to $54 million. Its customer base has grown elevenfold in the past 12 months and now includes six public companies, and the company will use the money to take its agents further across the finance function and into strategic finance. ## Month-End Close Automation and the Work Behind It The month-end close is the work of making a company's books complete and correct before results go to management, the board and auditors. Bank activity has to be matched to invoices and payments, accruals booked, subledgers reconciled to the general ledger and every exception explained, and at many companies much of that is still done by hand in spreadsheets in the days after the month ends. > "Every finance team carries a long list of work it does because somebody has to." > — Ramnandan Krishnamurthy, co-founder and CEO of Hyphenate Hyphenate's agents now run 90% of routine finance work across the platform, the company says. Mini Melts USA, the consumer goods company where Hyphenate's agents run orders, invoicing and refunds on top of its SAP system, was getting back 16,640 hours of finance work a year within three months of going live. ## Groupon and Synthesia Move Finance Operations Onto Hyphenate Krishnamurthy said his customers are watching that list of work "shrink in production," and that once a team sees the system handle one workflow to an auditor's standard, "they hand it the next one." Groupon, the Nasdaq-listed marketplace, is replacing legacy and home-grown systems with Hyphenate across treasury, order-to-cash and more than a dozen subledger processes. "As a public company, we run finance at a scale where every number has to stand up to scrutiny: millions of transactions, multiple currencies and markets, and auditors who need the evidence behind all of it," said Rana Kashyap, Groupon's chief financial officer, adding that the company sees Hyphenate "becoming the AI foundation for our entire finance organization." Synthesia, the London-based AI video company, is rolling Hyphenate out across its finance function. "We replaced point solutions with an autonomous finance platform that understands our business. Now the team focuses on exceptions and analysis, which helps make decisions faster," said Daniel Kim, Synthesia's chief financial officer. ## How Hyphenate's Self-Learning Finance Agents Work Hyphenate's agents sit on top of the ERP, banks and other systems a company already runs, so nothing is replaced. Rather than having engineers build custom agents for each customer, Hyphenate trains its agents on a company's historical spreadsheets, emails and system logs, then replays past months to pick up the exceptions and judgment calls that never made it into the software and have kept much of finance manual. ![Hyphenate's dashboard showing finance agents reconciling bank accounts, booking accruals and tracking the month-end close](https://cdn.nanimediahouse.com/hyphenate-finance-agents-dashboard.webp) *Hyphenate's dashboard, where agents reconcile bank accounts, book accruals and track the month-end close. — Photo: Hyphenate* After that, an exception a person resolves during one close is applied as precedent in the next, and a policy decision made once is applied every time the same situation comes up. Each action is recorded with the evidence behind it, so the work is ready for audit as it is done. The agents cover revenue recognition, invoicing, collections, cash reconciliation, accruals, accounts payable, the close and board reporting, and the share of routine work they handle without a person rises month by month. Krishnamurthy and Ajay Krishna Amudan, who both came from Microsoft's finance systems work, started the company in New York in 2024, and Foundation Capital led its $9 million seed in September 2025. ## Hyphenate's $45M Series A Led by Nexus Venture Partners Nexus Venture Partners, which has offices in Menlo Park, Mumbai and Bengaluru, backs companies at the seed and Series A stages. "Finance has an unusually high bar for accuracy, controls and auditability," said Abhishek Sharma, a managing director at the firm. "Hyphenate has built around that bar from the beginning, and the expansion we are seeing inside customers shows what becomes possible once the system earns the right to take on more work." In a [Gartner survey](https://www.gartner.com/en/newsroom/press-releases/2025-11-18-gartner-survey-shows-finance-ai-adoption-remains-steady-in-2025) of 183 finance leaders, 59% said their finance function used AI in 2025, almost unchanged from 58% a year earlier. Hyphenate's approach is to give its agents responsibility within set limits, keep the evidence behind every action and bring in a person only where judgment changes the outcome. The company plans to take its agents into strategic finance. Because they carry out the work themselves, Hyphenate says they produce a verified, current record of how money moves through a business, which it intends to use for forecasting and for the capital decisions a CFO makes. **About Hyphenate** Hyphenate, formerly Maximor, is a New York autonomous finance company whose AI agents run order-to-cash, treasury, general ledger accounting and close, procure-to-pay, and reporting on top of a company's existing ERP. It was founded in 2024 by Ramnandan Krishnamurthy and Ajay Krishna Amudan. [Website](https://hyphenate.ai/) ## FAQ **Q: What is month-end close automation?** It is software that takes over the routine work of closing a company's books each month, such as matching bank activity to invoices and payments, booking accruals and reconciling subledgers to the general ledger. Hyphenate's agents run this work continuously through the month instead of leaving it for the days after it ends. **Q: How long does a month-end close take?** It varies widely by company. HiBid's close took three weeks before it moved invoicing, collections and cash application onto Hyphenate, and now takes one day. **Q: Will AI take over finance jobs?** Hyphenate's model keeps people in charge of decisions that need judgment, while agents handle routine work such as reconciliation and invoicing. Synthesia's CFO says its finance team now focuses on exceptions and analysis instead. **Q: Who invested in Hyphenate's Series A?** The $45 million round was led by Nexus Venture Partners, with B Capital and existing investors Foundation Capital, BoldCap and Gaia Ventures. Hyphenate has raised $54 million in total.