Ex-Microsoft Execs Launch AI Firm Maximor to Replace Excel in Finance
AI Startup Maximor Aims to Revolutionize Financial Management
In today's corporate finance departments, Microsoft Excel remains the dominant tool despite significant investments in specialized financial software. Two former Microsoft executives, Ramnandan Krishnamurti and Ajay Krishnamurthy Amdan, are challenging this status quo with their new venture, Maximor - an AI-powered platform designed to replace spreadsheet-dependent workflows.
Image source note: The image is AI-generated, and the image licensing service provider is Midjourney
$9 Million Seed Funding Fuels Innovation
The New York-based startup recently closed a $9 million seed round led by Base Capital. These funds will accelerate development of Maximor's proprietary AI agent network that seamlessly connects with enterprise systems including:
- ERP platforms
- CRM software
- Billing systems
The technology continuously extracts transaction data, merging operational and financial information to provide real-time visibility. "Our system eliminates the end-of-month scramble to consolidate spreadsheets," explains co-founder Krishnamurti.
Proven Results for Early Adopters
Real estate tech firm Rently became one of Maximor's first success stories. After implementation, the company:
- Reduced monthly closing time from 8 days to 4 days
- Achieved these efficiencies without additional accounting staff
- Maintained compliance through automated audit trails
The platform integrates with popular accounting software including NetSuite and QuickBooks, automatically generating working papers and audit documentation. While designed to reduce Excel dependence, Maximor still allows spreadsheet exports to meet auditor requirements.
Hybrid Human-AI Approach
Maximor offers a unique dual solution:
- AI Agents: Handle data preparation and routine tasks
- Human Accountants: Provide review and oversight (available as managed service)
"We're not replacing accountants," emphasizes Krishnamurti. "We're empowering them by automating repetitive work while preserving their judgment role."
The company specifically targets organizations with $50+ million annual revenue, currently serving clients across the U.S., China, and India. Its software supports both:
- U.S. GAAP
IFRS standards
Key Points:
🌟 AI-powered automation reduces Excel dependence in corporate finance
⏱️ Early adopter Rently cut closing time by 50% (8 days → 4 days)
🤝 Offers both AI agents and human accounting services for complete solutions
🌍 Supports multinational operations with GAAP/IFRS compliance