Fieldguide Raises $75M Series C at $700M Valuation to Scale AI-Powered Accounting and Auditing Platform

Fieldguide, a San Francisco-based startup leveraging AI agents to transform accounting and auditing processes, has raised $75 million in Series C funding at a $700 million valuation. The round was led by Goldman Sachs Alternatives, with participation from existing investors including 8VC, Floodgate, and Y Combinator. This latest infusion brings Fieldguide's total funding to $120 million since its founding in 2019.

What Fieldguide Actually Does

Fieldguide's platform uses AI agents to automate traditionally manual accounting and auditing workflows. The company's technology integrates with existing enterprise systems to handle tasks like data extraction, risk assessment, compliance checks, and report generation. Rather than replacing accountants, Fieldguide positions itself as an augmentation tool that reduces repetitive work while maintaining human oversight for critical decisions.

The platform serves mid-market and enterprise clients across industries including financial services, healthcare, and technology. Fieldguide claims its AI agents can process thousands of documents in minutes—work that would take human teams days or weeks to complete manually.

Why This Funding Round Matters

This $75 million raise comes at a pivotal moment for AI adoption in professional services. While consumer-facing AI applications have dominated headlines, enterprise automation in regulated industries like accounting represents a massive but slower-moving opportunity.

Goldman Sachs' participation signals institutional confidence in AI's ability to transform back-office operations. The investment bank has been actively exploring AI applications across its own operations and sees potential in backing companies that can scale similar solutions to other enterprises.

The Accounting Industry's AI Moment

The accounting and auditing sector has been slower to adopt AI compared to other industries, largely due to regulatory requirements and risk aversion. However, firms are facing increasing pressure from:

• Talent shortages in accounting roles
• Rising compliance costs
• Client demands for faster turnaround times
• Competition from tech-native firms

Fieldguide's approach addresses these pain points by focusing on compliance and accuracy—critical factors in financial services. The company emphasizes that its AI agents are designed to work within existing regulatory frameworks rather than circumvent them.

Competition and Market Position

Fieldguide operates in a competitive landscape that includes both traditional enterprise software vendors and newer AI-native companies. Key competitors include:

• AuditBoard - Focuses on audit management software with some AI features
• Workiva - Provides compliance and reporting automation
• Trullion - Uses AI for lease accounting and revenue recognition
• MindBridge - Offers AI-powered audit analytics

What distinguishes Fieldguide is its focus on end-to-end workflow automation rather than point solutions. The company's AI agents can handle multiple stages of the audit process, from initial risk assessment through final reporting.

Real-World Applications

Fieldguide's customers report significant efficiency gains. One mid-sized accounting firm using the platform reduced audit preparation time by 60% while maintaining compliance standards. Another enterprise client automated its quarterly compliance reporting, cutting what was previously a two-week process down to two days.

Technical Approach

The platform uses a combination of large language models and specialized AI agents trained on accounting and auditing data. Fieldguide emphasizes that its models are fine-tuned on industry-specific datasets rather than relying solely on general-purpose AI. This specialization helps address concerns about accuracy and compliance in financial contexts.

The company has also invested in explainability features, allowing auditors to understand how AI agents reach their conclusions—a critical requirement for regulatory compliance.

What's Next

Fieldguide plans to use the new funding to:

1. Expand its engineering team to enhance AI capabilities
2. Scale sales and marketing efforts for enterprise adoption
3. Develop industry-specific solutions for healthcare and financial services
4. Invest in compliance and security infrastructure

CEO Jin Chang stated that the company aims to become the "operating system" for accounting and auditing firms, handling everything from client onboarding to final reporting.

Industry Context

This funding round reflects broader trends in AI enterprise adoption:

• AI in professional services: Accounting, legal, and consulting firms are increasingly adopting AI tools
• Regulatory technology: Compliance automation is becoming a priority as regulations grow more complex
• Enterprise AI: Companies are moving beyond pilot programs to full-scale AI deployment

However, challenges remain. Accounting firms must balance automation benefits against regulatory requirements, and some clients remain skeptical of AI-driven financial processes.

The Bigger Picture

Fieldguide's success could signal a turning point for AI adoption in regulated industries. If the company can demonstrate consistent ROI and maintain compliance standards, it may pave the way for broader AI integration in accounting and auditing.

The $700 million valuation suggests investors see significant upside potential, but the company will need to prove it can scale effectively while maintaining the accuracy and compliance standards that accounting professionals demand.

For now, Fieldguide represents one of the more tangible examples of AI transforming professional services—moving beyond hype to deliver measurable efficiency gains in a traditionally slow-moving industry.

[Featured image: Fieldguide co-founder and CEO Jin Chang. Credit: Fortune]