There are already some legacy players in this space, like QuickBooks, or other startups like Layer and Teal. “What is special about our approach is that we reimagined the data layer of financial transactions,” Yebesi said.
He said he and the team spent seven months developing AI workflows specifically to be used in allowing data transaction databases to interact with LLMs without exposing consumer data to base models. “With this, we’re about to minimize context limits, latency, and security issues,” he said.
Yebesi called fundraising smooth, and said Open Ledger met Kindred, its lead investor, because the firm invested in the pre-seed round at Yebesi’s previous company, Utopia. Other investors include Blank Ventures, Adventure Fund, Johnathan Chang from Brex, Guy Friedman, the CEO of SteadyMD, and Zach Abrams, who just sold his company Bridge to Stripe for a cool billion.