Numeric Secures $28M in Series A

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.

• Competition: Numeric is competing with established players like BlackLine and FloQast but has a unique edge due to its complex AI-driven capabilities.

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.