Nominal Secures $20M Series A to Automate CFO Tasks with AI
Nominal's AI platform aims to eliminate thousands of hours of manual accounting work for finance teams.
Nominal, an AI-driven enterprise resource planning (ERP) platform, has secured $20 million in a Series A funding round led by Next47 and Workday Ventures, with participation from existing investors including Bling Capital, Hyperwise Ventures, and others. This brings the company’s total funding to approximately $30 million.
Founders and Background
Founded in April 2023 by Guy Leibovitz (CEO) and Golan Kopichinsky (CTO), Nominal builds on the duo’s prior success with Cognigo, which was acquired by NetApp in 2019 for $70 million. The company currently employs 40 people across Israel and the U.S. and plans to double its workforce in the next year.
Nominal founders (Photo: Sarel Keren)
The AI Platform
Nominal’s agentic platform integrates with existing ERP systems to automate manual finance tasks like account reconciliations and financial analysis. The AI agents operate autonomously, understanding business context without extensive configuration. The company claims its platform has already saved 50,000 hours of manual accounting work.
Industry Impact
Guy Leibovitz, CEO of Nominal, emphasized the transformative potential of AI in finance:
"The last major shift in ERP was the move to the cloud 25 years ago. Now, AI is reshaping operations. Nominal isn’t just a system of record—it’s a system of intelligence. With a shortage of 300,000 CPAs in the U.S., AI automation is no longer optional."
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Key Takeaways
- $20M Series A led by Next47 and Workday Ventures.
- AI platform automates ERP tasks, saving 50K+ hours.
- Founders previously sold Cognigo to NetApp.
- Plans to double team size in 2024.
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About the Author
Dr. Emily Wang
AI Product Strategy Expert
Former Google AI Product Manager with 10 years of experience in AI product development and strategy formulation. Led multiple successful AI products from 0 to 1 development process, now provides product strategy consulting for AI startups while writing AI product analysis articles for various tech media outlets.