Numeric is transforming the tedious and time-consuming accounting process with AI-driven automation. Founded by Parker Gilbert in 2020, the startup is now being used by top companies like Brex, OpenAI, and Wealthfront. With $28 million raised in its Series A, led by Menlo Ventures, Numeric is poised for major growth.
Generative AI Power: By using generative AI, Numeric’s software identifies changes in financial data, explains variances, and saves accountants significant time.
Recent Funding: After raising $10 million in a seed round earlier this year, Numeric has now secured $28 million in a Series A led by Menlo Ventures. Other investors include IVP, Socii, Founders Fund, Long Journey, and 8VC.
Future Plans: Menlo Ventures’ partner Croom Beatty sees the potential for Numeric to expand into financial planning and analysis, competing with leaders like Anaplan.
With its innovative use of AI, Numeric is rapidly changing the accounting landscape. Supported by investors like Menlo Ventures and IVP, it’s well on its way to becoming a leader in the space.