AI audit and compliance platform Petual has closed a $20m funding round, with the proceeds earmarked for accelerating product development.
Andreessen Horowitz, First Round Capital, Cowboy Ventures, and investor Elad Gil all participated in the raise. The capital will be directed towards product development and go-to-market expansion.
Petual’s platform introduces agentic AI to SOX testing and internal audit, enabling autonomous evidence gathering and work paper generation at enterprise scale. It can ingest a wide variety of document types, from screenshots and PDFs through to Excel files, producing fully formatted work papers in minutes rather than the many hours currently consumed by manual approaches.
All outputs meet external auditor expectations and remain traceable back to their source documents, while a built-in review and approval chain ensures that human oversight is never removed from the process.
The company reports efficiency gains of between 68% and 80% on existing SOX workflows for its customers, which already include S&P 500 and NASDAQ 100 businesses across industries including energy, software, infrastructure, manufacturing, and financial services.
Erin Dempsey Heuwetter, head of audit, risk and compliance at Navan, said, “As a large public company, maintaining audit quality while scaling efficiently is critical. Petual enables us to do both, delivering structured, auditor-ready workpapers in a fraction of the time it would take manually.”
a16z general partner and Petual board member Brian Roberts said, “It’s not often that we see an early-stage company able to reach large enterprise customers so early in their journey. This is a testament to both how compelling the market opportunity is for Petual and the strength of the product they’ve built.”
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