At 24 years old, Pryce Yebesi already had one exit: the sale of his crypto invoicing company Utopia Labs to Coinbase for an undisclosed amount.

Some founders don’t just have a company in them. On Monday, Yebesi announced the launch of his new company, Open the Ledgerwhich embeds automated accounting software into products already used by enterprises and small businesses. He has already raised $3 million in a round led by Kindred Ventures and Blank Ventures.

Yebesi said he came up with Open Ledger while still working at Utopia Labs, where he is the chief product officer. He said he realized that the businesses he worked with were still using outdated accounting software.

“When we built Utopia’s invoicing products, we saved our customers 70-80% of the time they spent on accounting tasks. That experience led me to realize the need for more expandable and embedded accounting solutions,” Yebesi told TechCrunch. “Open Ledger is our answer to that challenge. An AI-driven, modular accounting tool that lives where our customers already work.

After his company exited, he served as an entrepreneur-in-resident at Washington University in St. He works with small businesses and has seen other founders have similar issues with accounting software. He teamed up with Ashtyn Bell – who was working in AI research at a venture capital firm at the time and previously led product at Candy Digital – to launch Open Ledger.

The company offers accounting features in the form of embedded components, APIs, and a ledger database, which allows for AI-driven categorization, reconciliation, and financial reporting, Yebesi said. “Open Ledger integrates and orchestrates every data source for companies, then allows AI to execute accounting functions with full financial context.”

There are already some legacy players in this space, like QuickBooks, or other startups like Layer and Teal. “What’s special about our approach is that we’re reimagining the data layer of financial transactions,” Yebesi said.

He said he and the team spent seven months developing AI workflows specifically to be used to allow data transaction databases to interact with LLMs without exposing consumer data to the base models. “With this, we’ll be able to significantly reduce context limitations, latency, and security issues,” he said.

Yebesi called the fundraising smooth, and said Open Ledger met Kindred, the lead investor, because the company had invested in the pre-seed round of Yebesi’s previous company, Utopia. Other investors include Adventure Fund, Jonathan Chang from Brex, Guy Friedman, the CEO of SteadyMD, and Zach Abrams, who recently sold his company Bridge to Stripe for a cool billion.

Open Ledger has already signed some contracts, although Yebesi declined to disclose who. The company works with SaaS companies, fintech, and banks, which in turn work with small and medium-sized businesses, he said. The company is still in beta, though it plans to be fully released by the end of this month. The company will use the new capital to hire, and is looking for talent in product, engineering, and business development.

“We put a lot into hiring great talent, training great models for financial work internally, and investing heavily in early compliance,” Yebesi said.

Next, he said the company hopes to support at least one million users by the end of this year. “Keep a strong team,” he said. “And help thousands of small businesses spend more time with their customers and less time closing their books.”

Correction: This story has been updated to reflect the spelling of Open Ledger, Ashtyn Bell‘s previous work experience, and add Blank Ventures as an investor.