Funding Success of Numeric

Numeric recently raised $28 million in a Series A funding round, just five months after securing $10 million in a seed round, bringing their total funding to $38 million. This impressive fundraising indicates strong investor confidence, stemming from a remarkable 4X growth in their annual recurring revenue over the past year. The influx of capital is attributed to their innovative use of AI to automate accounting processes, a solution that addresses significant pain points in traditional financial management. Many prominent firms, including Brex, OpenAI, and Plaid, are now leveraging Numeric's services, underlining the appeal and efficacy of their offerings in the market.