AI-Powered Audit Agents: Cortea’s €12M Push for Smarter Audits

Berlin-based startup Cortea has secured €12 million in Seed funding to advance its AI-driven quality layer for audit firms. The round, led by Dawn Capital, also saw participation from Cherry Ventures, Mosaic Ventures, and angel investors like Larry Bradley, former Global Head of Audit at KPMG.

The company, founded in 2024 by Valentin Neumann and Philipp Hövelmann, introduced its first Audit Quality Agents, designed to enhance audit quality and capacity. Neumann emphasized the transformative potential of AI in audits, stating, "The audit profession is about to undergo one of the biggest shifts in its history. AI will transform how audits are executed, but it will also raise the bar for quality, consistency, and professional oversight."

Cortea’s agents, developed with leading audit firms, review reports, financial statements, and workpapers to identify inconsistencies, missing information, and compliance issues in minutes. During the recent audit season, the technology processed over 4,000 reports, saving auditors days of manual review per engagement.

Larry Bradley noted, "In audit and assurance, trust is everything." Cortea’s solution ensures AI adoption remains reviewable and defensible, aligning with the profession’s demand for rigour and reliability.

The funding will support the development of additional agents, deeper platform integrations, and expansion into the UK, Germany, and the US. Dan Chaplin of Dawn Capital added, "Now is the time to change the operating model for audit delivery. The team at Cortea have built a solution that works with auditors and for auditors."