AI accounting automation platform Numeric has raised a $28 million Series A round led by Menlo Ventures, with participation from new investors IVP and Socii Capital, and existing investors Founders Fund, 8VC, Long Journey, Friends & Family Capital, Access Industries, and more.
This milestone comes just five months after announcing its $10 million seed round in May, after which its business has accelerated significantly.
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“Investors and Numeric customers are excited for the same fundamental reason. It’s clear that accounting teams today spend too much time manually organizing, correcting, reconciling, and synthesizing their financial data”, said Parker Gilbert, CEO of Numeric.
The money will be used by the business to hire more engineers and expedite product development.
About Numeric
Numeric is an AI accounting automation platform, built to take manual work off accountants’ plates so they can focus on what’s impactful. Numeric is currently used by hundreds of private and public companies to organize their close, automate reconciliations, and leverage AI for auto-drafted flux explanations and technical accounting research.
