Paraglide, a company developing artificial intelligence solutions to automate accounts receivable (AR) management, has announced a $5 million seed funding round led by Bessemer Venture Partners and DN Capital.

Intelligent Automation for B2B Billing

Paraglide's platform uses AI agents to automate billing communications in the B2B context. These agents are designed to answer customer questions, chase overdue invoices, and take action to reduce Days Sales Outstanding (DSO) and optimize cash flow.

Unlike traditional tools that rely on standardized payment reminders, Paraglide's AI agents manage full conversations with customers, responding to and following up on requests in a personalized manner.

Initial Results and Future Prospects

Paraglide has already partnered with companies such as Choco, Ardoq, and Spiideo, and with revenue automation company Chargebee. Early customers report a 34% reduction in DSO and more efficient management of their financial inbox within the first week.

The funding will be used to expand Paraglide's operations in Europe, in response to the growing demand for automation in the financial sector.