Maximor, a new tech startup, moves in to shake up the competitive landscape. They hope to reduce the use of Excel spreadsheets to manage spreadsheets. The company’s ambition is to replace finance teams’ reliance on Excel with its innovative AI system. Filling this void were industry veterans Ramnandan Krishnamurthy and Ajay Krishna Amudan, co-founders of Maximor. The company just came out of stealth mode, trumpeting its $9 million seed funding round led by Foundation Capital.
Maximor’s main office is in New York with a satellite office in Bengaluru, India. The company has quickly grown to 18 full-time staff, with nearly an even division between the U.S. and India. The firm is currently hiring in both locations to accommodate the firm’s own growth and continued expansion.
Ramnandan Krishnamurthy and Ajay Krishna Amudan have been a duo for 14 years. Their collaboration started when they were both students at IIT-Madras. Krishnamurthy is one of the original members of Microsoft’s new digital transformation mission. In the past, he managed finance and data projects for large clients including Coca-Cola. In August of 2024, he and some others co-founded Maximor. He wanted to leverage his expertise to create a product that will help cities avoid the inefficiencies faced by today’s finance departments.
Maximor specializes in building and advising companies with a minimum of $50 million in revenue. They’ve already taken the battle for early adopters, having established themselves in multiple markets — the US, China, and India. The firm’s AI-powered financial agents integrate seamlessly with current enterprise resource planning (ERP) systems such as NetSuite and Intacct. Their interfaces seamlessly connect with widely-used accounting software like QuickBooks and Zoho Books. This interoperability means companies can continue leveraging their existing workflows they’ve come to know and trust, making their process more efficient.
Our platform uses an API that easily integrates with Excel, ” Krishnamurthy described. It does the heavy lifting and we can show results in our own UI or right in Excel itself. This capability positions Maximor as a viable alternative for organizations looking to modernize their financial operations without abandoning tools they are accustomed to.
Maximor’s software is based on the rules of GAAP and IFRS. This helps to ensure compliance and makes what can be a complicated and burdensome financial process more straightforward. By automating high-volume, low-value routine tasks, the platform allows finance teams to redirect their efforts from data entry to strategic and informed decision-making.
The company’s emergence comes at a time when businesses are increasingly looking for solutions that enhance efficiency and accuracy in finance operations. Everyone is in a mad dash to keep up with the rapidly evolving landscape of financial technology. This is where Maximor comes in with a robust, intelligent solution that alleviates the cumbersome process of traditional spreadsheet-based finance management.