When we first met Matthieu Hafemeister and Ted Michaels, what stood out wasn’t just that they were building AI for finance — it was that they had lived the problem.
Ted ran finance at Jeeves, a fast-growing, highly international company. Simple questions like “What’s our cash balance?” required logging into multiple banks, reconciling FX, pulling data from NetSuite, Salesforce, Stripe, and stitching it together in spreadsheets. It was slow, manual, and constant.
That experience led them to start Concourse.
Concourse builds AI agents for internal finance teams — CFOs, accounting, strategic finance. You connect your systems once, and instead of pulling reports across 10 tools, you can just ask questions in natural language. The agent queries the underlying data accurately and returns answers in minutes.
At first, teams use it for ad hoc analysis. Then they start automating recurring reporting — the WBRs, the post-close decks, the work that eats weekends. Instead of spending two weeks closing and reporting before taking action, they get answers immediately and use that time to make better decisions.
The impact is real. Concourse grew revenue 19x last year and 13x in customer count. They’re deployed in large enterprises, including Palo Alto Networks. Teams are identifying churn risks earlier, running analyses that were previously impossible in Excel, and acting on data faster.
What excites me is that this isn’t a 10% workflow improvement. It’s a reimagining of how finance work gets done. Concourse feels less like another tool and more like another member of the team.
We led their Series A because we believe AI agents will fundamentally change how companies operate — and finance is one of the highest-leverage places to start. Matthieu and Ted deeply understand the problem, and they’re building something important.
We’re excited to be building with them.