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Funding Details
| Item | Value |
|---|---|
| Company | Clark (New York, US; formerly uiAgent) |
| Round | Seed |
| Amount | $11M |
| Lead | Touring Capital |
| Participants | Marathon Management Partners, Rerail, Sofeon Ventures |
| Valuation | Undisclosed |
| Total raised | $16M ($5M led by Marathon Management Partners in September 2025 + this $11M round) |
| Founded | Undisclosed |
| Headcount | Undisclosed |
What the company does
Clark builds AI for CPA firms doing audit work. The product it just launched, Clerks, are autonomous AI employees that work audit engagements the way a junior auditor would, start to finish: reviewing documents, running tests, and preparing workpapers. When something's missing, a Clerk requests it from the client, tracks the response, and picks the work back up the moment the information arrives — without anyone having to prompt it again.
Clerks run on Material Intelligence, Clark's own AI operating system, which combines an agent harness, document processing, and a multi-layered memory system modeled on human memory, so a Clerk carries context forward the way an experienced auditor would. Routine updates are handled quietly, while anything that genuinely needs an auditor's attention gets escalated with evidence attached. Licensed CPAs retain the final professional judgment, review the work, and sign the opinion. More than 35 CPA firms already use Clark, including CliftonLarsonAllen, Aprio, Kreischer Miller, and Sensiba, and the company offers a 100% accuracy guarantee and a peer-review guarantee.
What this round signals
What it means for the agent ecosystem
A traditional audit opinion is a snapshot of a year that's already over — it checks something that already happened, sometimes long after the fact. Clark wants to turn audit from "once a year" into "continuous and current," and its ambitions go beyond corporate financial statements: the U.S. Government Accountability Office estimates the federal government loses $233 billion to $521 billion a year to fraud, and most audits of public money happen only after it's already been spent. If verification can become real-time and affordable, CPA firms could in principle extend audit services into government programs, catching problems while the money can still be stopped or recovered.
What investors are betting on
Lead investor Touring Capital was founded in 2023 by Nagraj Kashyap, Priya Saiprasad, and Samir Kumar, whose backgrounds span SoftBank Vision Fund, Microsoft's corporate venture arm M12, and Qualcomm Ventures. The firm's playbook is picking early growth-stage, AI-driven SaaS companies — it previously led a $33M Series B for compliance-automation company SafeBase, which was acquired by Drata just 10 months later. Touring Capital co-founder and GP Priya Saiprasad frames the thesis as: "Assurance is fundamentally a trust business, and AI creates an opportunity to dramatically expand what CPA firms can accomplish without compromising that trust." Betting on Clark is a bet that the same fast-validation, fast-acquisition playbook from early-stage AI SaaS can play out in an industry as conservative as audit.
Numbers worth watching
- More than 35 CPA firms already use Clark, including mid-to-large regional chains like CliftonLarsonAllen and Aprio — not just a handful of small pilot customers
- Total funding is still just $16M, seed-stage, which looks capital-efficient relative to the size of the audit market it's targeting
- Competitors are already attacking the same niche from different angles: Andera raised a $37M Series A in June for internal audit automation, while Benford raised $5M to build a "tech-native" audit firm of its own, rather than selling tooling to existing firms — "audit agent" is being contested via both a tools strategy and a build-your-own-firm strategy at the same time
Watchlist status
Clark isn't on the watchlist yet. There's currently no dedicated "accounting / audit agent" category — the closest fits are under D6 (Financial Services / Insurance): Hadrius (financial compliance agent) and Pints AI (auditable agents for regulated financial institutions), but compliance and audit are adjacent, not identical, lanes. Recommend adding an audit sub-category under D6, or splitting out a standalone "Accounting / Audit AI" category if more companies show up, with Clark (audit-execution agent), Andera (internal audit automation), and Benford (rebuilt audit firm) as the initial candidates.
Today's takeaway
Clark used to be called uiAgent, and the rebrand defines its product as "Clerks" — audit clerks — rather than the far more common "copilot" or "assistant." That naming choice says something on its own: it wants to be like an employee who's assigned work and chases it down on their own, not something that waits to be asked. That "autonomous AI employee" framing is closer to what enterprises actually want to buy than "copilot" is — labor you don't have to babysit, not one more chat window.