Synthetic's $10M Bet on AI-Powered Startup Accounting

San Francisco-based Synthetic closed a $10 million seed round from Khosla Ventures to automate bookkeeping for software startups. The AI system handles complexities that generic accounting software struggles with: subscription revenue recognition, usage-based billing, and multi-currency operations. Synthetic aims to eliminate manual work in categorization and reconciliation, targeting a market where finance overhead remains a significant cost.