Numeric raises $28M to build the next-gen financial data platform

We’re excited to announce that 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 our $10 million seed round in May, after which our business has accelerated significantly.

Over the past year, our ARR has grown 4x. We’ve welcomed leading private and public companies as new customers, including OpenAI, Plaid, and Brex. Teams are increasingly leveraging AI within Numeric to rethink and automate their recurring workflows.

This new fundraising round empowers us to further accelerate our R&D efforts. 

We are thrilled to build on our partnership with Menlo Ventures and to have Croom Beatty lead our Series A. From the outset, the Menlo Ventures team clearly understood our ambitions, aligned with our strategy, and proactively found ways to help us grow.

We’re also excited to continue working with our existing investors, Founders Fund, 8VC, Friends & Family Capital, Access Industries, as well as welcoming two new funds, IVP and Socii Capital.

A new approach to a perennial problem

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.

Financial data—what should be one of a business’s most strategic assets—is too often incorrect, underutilized, and delivered days or weeks too late. 

We’re building a solution for accounting teams to solve this data problem.

Today, teams use Numeric to actively monitor their financial data in real-time for errors, automate critical month-end workflows and reconciliations, generate explanations for fluctuations and trends using AI, and pull together sophisticated financial reports in seconds. 

With Numeric, leading accounting teams drive audit-ready, accurate, and actionable financial data with less manual work. 

And we’re just getting started. 

Transforming the role of the accountant 

With advancements in AI, we have the opportunity to go far beyond incremental improvements and fundamentally reimagine accounting software and workflows. 

With truly intelligent software, preparers become reviewers. Instead of “staring and comparing” at disconnected data, accountants will increasingly play the role of architects of the financial system. No longer working in silos, they’ll collaborate closely with stakeholders across the organization.

Our goal is to empower accounting teams to move beyond the role of scorekeepers in spreadsheets, enabling them to provide strategic guidance that drives the business forward.

Continued Investment in R&D 

It’s been a privilege to serve so many remarkable companies and teams, and we are excited to double down on our R&D efforts to continue improving and expanding our product offerings. To do so, we are actively growing our team of incredible accountants and engineers.

Reaching the milestone of a Series A round is a testament to our team’s autonomy, where engineers speak directly to customers to inform product decisions, and where we approach both GTM and product questions from first principles. 

While raising funds is not an end in itself, it confirms the impact of our product and the culture that we’re building at Numeric. 

Looking ahead, we know reaching future milestones will require these same principles, continued hard work, and a commitment to our vision—a future where financial data becomes a powerful, real-time asset for every business.
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If you’re interested in playing a role in our next chapter, we’re hiring. 

If you’re interested in exploring why leading accounting teams are excited about the Numeric approach to the month-end close, schedule a time to talk with our team.