General Catalyst-Backed Startup Raises $75 Million to Bring AI to Accounting

General Catalyst — the storied venture capital firm that’s undergoing a transformation into a broader and more ambitious financial company — is making its latest play to use AI to transform a legacy business: This time targeting accounting.

General Catalyst has put $65 million behind Accrual, a startup making artificial intelligence software for accounting. The cash influx is part of two funding rounds totaling $75 million for the startup, which was incubated by General Catalyst and is coming out of stealth this week.