Andera
5 known investors
Andera is an AI tool for auditors that ingests audit evidence in any format and produces audit-ready workpapers, performing AI-based control testing without requiring an engineering team. It targets audit teams as an alternative to RPA solutions, adapting to changing controls and data formats.
Also known as Andera.ai
Founders & leadership
Investors · 5
Also in the syndicate · 1
Funding
SEC filings, press & company announcements$37M disclosed across 1 of 2 rounds · 2025–2026
- $37MSeries AJun 2026 · 2 sources
Lightspeed Venture Partners (lead)
Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Andera develops an AI system that automates internal controls testing and audit fieldwork. Users upload audit evidence in any format and the product returns workpapers in the formats a team already uses, covering control testing, evidence gathering and exception management. The company's demonstration material describes work such as testing IT general controls (for example a quarterly logical access / user access review), scanning full populations rather than samples, documenting information produced by the entity (IPE), annotating data exports, building lookups across user lists and generating audit logs of each processing step.
The product is positioned as an alternative to robotic process automation. Andera states that RPA deployments require engineering teams to maintain, are limited in the number of controls they can automate, and must be reprogrammed when controls or evidence formats change, whereas Andera is designed to deploy without an engineering team and adapt as the client environment changes. The company frames the tool as applying an organization's best auditor's standards at scale rather than replacing auditor judgement, and says its use cases extend beyond SOX audits. Andera also markets to teams that already use GRC tooling.
Security claims include SOC 2 Type II certification with independently audited controls, no use of customer data for model training, and no sharing of data with outside providers.
Founding story
The company describes itself as built for auditors by auditors, combining audit expertise with engineering to address manual toil that prior audit technology did not remove.
Business model
Andera sells its AI controls-testing software to audit teams, with prospective customers routed through a book-a-demo motion on its website.
Traction
The company says it is trusted by audit teams and claims 70% time savings on controls, alongside a $37M raise led by Lightspeed.
Latest developments
Announced a $37M funding round led by Lightspeed to bring AI to audit, covered by Axios, and lists Bain Capital as a backer.
▸Full profile — market position, technology, go-to-market
Market position
Presents itself as an audit-specific AI vendor claiming the largest-scale AI control testing deployments to date and backing from Bain Capital and Lightspeed.
Positioned against RPA tools and existing audit technology: no engineering team or setup required, adaptation to changing controls and evidence formats, ability to write documentation, analyze IPE and handle control-owner communications, and a team the company describes as intentionally half auditors and half engineers.
Technology
AI-based control testing that ingests audit evidence in arbitrary formats and outputs audit-ready workpapers, including automated population testing, IPE documentation, exception identification, spreadsheet manipulation such as VLOOKUPs, and step-level audit logging. The company argues well-designed AI systems should handle messy, changing data formats rather than requiring clients to normalize data.
Go-to-market
Direct enterprise sales supported by demo requests on the company site, with social proof from audit teams presented as existing users and public visibility from funding coverage.
Internal and external audit teams performing controls testing, including SOX and ITGC work, and organizations with complex control environments.
Compiled by commissioned research from 1 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 2
launches, deals, and filingsAndera announced a $37M raise led by Lightspeed to bring AI to audit, with coverage reported by Axios. The company also lists Bain Capital among its backers.
$37M source ↗
Andera states it is SOC 2 Type II certified, with controls independently audited, no use of customer data to train AI models, and no third-party data sharing.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 1
primary sources listed
- Anderaandera.ai · web
1 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Andera do?
- Andera is an AI tool that automates controls testing for audit teams, turning raw evidence into audit-ready workpapers.
- Who founded Andera?
- Andera was founded by Aryo Patel.
- Who are Andera's investors?
- Andera's investors include Bain Capital, A*, Bain Capital Ventures, Lightspeed Venture Partners.
- How much funding has Andera raised?
- Andera has disclosed $37M raised across 1 of its 2 known rounds.