Numeric, the San Francisco-based AI accounting automation platform founded in 2020, has secured a $51m Series B round as it accelerates its transition from close management software into a comprehensive finance operations platform.
The funding aims to support Numeric’s expansion into a broader compound startup model, enabling it to build a unified data platform for enterprise finance teams. The raise brings the company’s total funding to $89m.
Numeric, which operates across San Francisco, New York and London, helps enterprise accounting teams reduce manual processes by automating data workflows and providing scalable, AI-powered tools.
The company has now launched its new cash management product, addressing what it describes as one of the most burdensome steps in the financial close. Cash matching — the reconciliation of bank transactions against general ledger entries — typically achieves industry match rates below 30%, leaving teams to manually handle thousands of entries. Numeric’s new product delivers a 90%+ auto-match rate, nearly tripling the standard and removing several days of manual work for early adopters such as Brex, Public.com and Clipboard Health.
Numeric CEO Parker Gilbert said, “We started by solving the close, but our vision has always been greater,” said Gilbert. “Each product we build makes the others more powerful. We’re marching toward a future where accounting isn’t manual spreadsheet work but instead is a real-time strategic function. This funding accelerates that timeline significantly.”
IVP general partner Ajay Vashee said, “Numeric has consistently demonstrated exceptional product execution and deep understanding of what finance teams actually need,” said Ajay Vashee, General Partner at IVP. “Their ability to expand from close management into analytics and now cash management, while maintaining product excellence across each, shows they’re building something truly differentiated. We’re excited to support their vision for the future of accounting.”
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