Numeric Raises $28 Million in Series A Funding

Numeric, an accounting software company, has recently announced that it has raised $28 million in Series A funding. The funding round was led by Menlo Ventures, with participation from new investors IVP and Socii. This funding will be used to further develop and expand the company’s product offerings.

Automating the Book-Closing Process

Numeric’s accounting software automates certain parts of the book-closing process. The company achieves this by aggregating and reconciling data from various accounting systems and Excel spreadsheets. It then overlays that data with an AI agent, which looks for how each line item changed from the previous month.

This automation of the book-closing process can save companies a significant amount of time and resources. By automating the process, companies can reduce the risk of errors and ensure that their financial statements are accurate and up-to-date.

The Benefits of Numeric’s Accounting Software

Numeric’s accounting software offers a number of benefits to companies. One of the main benefits is the automation of the book-closing process. This can save companies a significant amount of time and resources, as well as reduce the risk of errors.

In addition to automating the book-closing process, Numeric’s software also provides real-time financial reporting. This allows companies to make informed decisions based on up-to-date financial information.

The software also offers advanced analytics and reporting capabilities. This can help companies identify trends and patterns in their financial data, which can be used to make strategic business decisions.

The Future of Numeric

With the recent funding round, Numeric is well-positioned to continue developing and expanding its product offerings. The company’s focus on automating the book-closing process and providing real-time financial reporting and analytics is likely to be in high demand as companies look for ways to streamline their financial operations.

Overall, Numeric’s accounting software offers a number of benefits to companies, including time and resource savings, reduced risk of errors, and advanced analytics and reporting capabilities. With its recent funding round, the company is poised for continued growth and success in the years to come.