Hyphenate, an autonomous finance platform built for the office of the CFO, has secured $45m in a Series A round after its revenue grew 86x over the past year.

Nexus Venture Partners led the investment, with B Capital also joining. Existing backers Foundation Capital, BoldCap and Gaia Ventures returned for the round, which takes the company’s total funding to $54m. Hyphenate plans to use the capital to extend its agents further across the finance function and into strategic finance.

The raise comes less than a month after the business changed its name from Maximor to Hyphenate. A year ago it closed a $9m seed round to reduce repetitive work for finance teams. Since then it has passed multi-million-dollar annual recurring revenue, and its customer base has grown 11x in 12 months to include six public companies.

Its agents now handle work across hundreds of entities, thousands of bank accounts and millions of daily transactions. Customers report 90% less repetitive finance work and 75% fewer audit exceptions. About 40% expand their use within the first year, some by two to three times, and the average customer uses six modules.

Several clients illustrate this growth. Consumer goods firm Mini Melts USA runs Hyphenate agents alongside its SAP environment for orders, invoicing and refunds, and recovered 16,640 hours of finance work a year within three months of launch.

5bn in GMV through fully automated order-to-cash on the platform, reducing its month-end close from three weeks to one day.

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