Startup aims for fully autonomous AI bookkeeping, despite founder’s past failure.

Khosla Ventures has invested $10 million in Ian Crosby’s new startup, Synthetic, which aims to develop a fully autonomous AI system for bookkeeping. Crosby previously founded Bench, an accounting firm that failed and was eventually sold for scraps in 2024. His new venture seeks to address the limitations of traditional manual accounting by leveraging advanced AI capabilities.

For builders and operators in the tech industry, this investment highlights the ongoing push towards automation and artificial intelligence. Synthetic’s approach could disrupt existing software solutions like Xero, which rely on human accountants. This could lead to more efficient financial processes for startups and tech companies that require precise and real-time financial management.

The next move for Synthetic will be to refine its prototype and demonstrate how it can handle a broader range of users beyond the narrow group currently being served. Investors like Khosla Ventures are betting on Crosby’s vision, despite past challenges, indicating a growing interest in AI-driven automation tools that could transform traditional business practices.

Crosby emphasizes that Synthetic’s product will be entirely autonomous, rejecting any reliance on human intervention. This strategic direction sets the startup apart from current market players and positions it as a potential game-changer for the tech industry.

What matters

• Khosla Ventures led a $10 million Seed funding round for Synthetic.
• Crosby’s previous startup Bench failed but he now targets AI-driven bookkeeping.
• Synthetic plans to serve tech startups with fully autonomous financial solutions.

Why it matters

Synthetic plans to serve tech startups with fully autonomous financial solutions.

This GenAI News article was prepared in original wording using reporting and materials published by TechCrunch AI. Source reference: https://techcrunch.com/2026/05/14/khosla-ventures-is-betting-10m-on-ian-crosby-whose-last-startup-bench-imploded/.

Drafted by the GenAI News review pipeline.