LIGHTSPEED LEADS $37M SERIES A TO AUTOMATE INTERNAL AUDIT

Summary from the TLDR Fintech newsletter

Lightspeed is leading a $37M Series A in Andera, an AI-native platform automating internal audit end-to-end, from SOX control testing to workpaper generation. The thesis: audit is a reasoning problem that rules engines never cracked, public companies spend $3M to $20M+ annually on audit fees, and the Big Four face an innovator's dilemma since their hourly billing model prevents them from cannibalizing themselves with AI.