Existing investors AQC Capital and Graphite Ventures also participated in the financial management software startup’s Series A. The all-equity deal included a secondary sale of shares from at least one existing shareholder. (The Logic, BetaKit) 

Talking point: Maxa, which runs a platform that automates financial and business management reporting and analysis, previously raised $5 million before closing this latest round. The sizable Series A comes as investors look for companies with artificial intelligence solutions for specific business needs. “Every enterprise is scrambling to implement AI, find cost savings and develop better insights to run their businesses more effectively and efficiently,” said Framework partner Jim Texier in a press release. “Maxa is a truly rare company that checks all those boxes.” The company plans to use the financing to “fuel [its] product, go-to-market and customer self-serve capabilities.”