Numeric Secures $10M in Seed Funding to Drive AI-Powered Accounting Automation
Both private and public companies, including notable clients like Brex, Plaid, and Wealthfront, utilize Numeric’s AI accounting automation platform.
Company Name: Numeric
Location: San Francisco, CA and New York City, NY
Sector: Financial Technology, Artificial Intelligence
Funding Details:
Numeric, an innovator in AI-powered accounting automation, has successfully raised $10 million in Seed funding. The round saw participation from Founders Fund, Menlo Ventures, 8VC, Long Journey, Friends & Family Capital, among others.
Purpose of the Investment:
The funding will primarily be used to expand Numeric’s R&D hiring efforts, enabling continued development of new and innovative product features that enhance accounting automation.
Founders:
Numeric was founded in 2020 by Anthony Alvernaz, Parker Gilbert, and Andrew Bihl, who together have pioneered the development of advanced AI tools for accounting.
With this funding, we’re building towards a future where accountants will be able to automate their most recurring work and focus instead on empowering their business to make the best decisions. Increasingly, accounting teams’ primary role will be of editor, interpreter, and architect of the financial operations system. - Parker Gilbert
Product Overview:
Both private and public companies, including notable clients like Brex, Plaid, and Wealthfront, utilize Numeric’s AI accounting automation platform. The platform assists companies in performing technical accounting research, flagging data discrepancies, drafting variance explanations, and automating recurring month-end close processes, thereby significantly enhancing efficiency and accuracy.