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Numeric grabs $28M Series A to automate accounting using AI
Just five months after it raised a $10 million seed round, Numeric has raised a $28 million Series A led by Menlo Ventures.
And the introduction of genAI several years later significantly enhanced Numeric’s capabilities, so much so that it’s now used by the accounting departments of companies like Brex, OpenAI, Plaid and Wealthfront. Croom Beatty, a partner at Menlo Ventures, said he has spent a lot of time looking for a company that is disrupting accounting software, and Numeric was one of the first startups in the category to pique his interest. Numeric competes with two accounting software companies: Publicly-traded Blackline, and FloQast, an 11-year-old startup that was valued at $1.6 billion when it raised its Series E this April.
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