AI accounting automation platform Numeric has raised a $51 million Series B round led by venture capital firm IVP, with participation from Menlo Ventures, Founders Fund, Alkeon, 8VC, Socii Capital, Access Industries, Friends & Family Capital, Long Journey Ventures, and Fifth Down, as well as Marc Huffman, former CEO of BlackLine, and Ron Gill, former CFO of NetSuite, the San Francisco-based company said on Nov. 19.
This investment, which brings Numeric’s total funding raised to $89 million, will allow it to expand from close management into a broader compound startup model, delivering a unified data platform for enterprise finance teams.
Alongside the funding announcement, Numeric is launching its cash management product.
“Accounting for cash is often the most painful step of the close process for enterprises, and it starts with cash matching: the process of reconciling bank transactions with general ledger entries,” Numeric said in a media release. “Legacy tools often deliver match rates below 30%, leaving finance teams to reconcile hundreds or thousands of transactions manually. For growing companies, this can require teams of five or more people dedicated solely to cash reconciliation.”
Numeric said its cash management product achieves a 90%-plus auto-match rate, nearly triple the industry standard.
“Early customers of the new product, including Brex, Public.com, and Clipboard Health, are already eliminating multiple days of manual reconciliation work each month,” Numeric said.
The company said the Series B represents a pivotal moment in its evolution from a close management solution to a multiproduct platform with a shared data core. With three core products now live—close management, analytics, and cash management—Numeric is building what CEO Parker Gilbert describes as “the connected platform for finance operations.”
“We started by solving the close, but our vision has always been greater,” Gilbert said in a statement. “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.”
“Numeric has consistently demonstrated exceptional product execution and deep understanding of what finance teams actually need,” added 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.”
Brex, which piloted the product, said it saw its match rate jump from 30% to more than 90%, enabling its team to dramatically reduce time spent on manual reconciliation work.
“Numeric didn’t have the dream of just a project management tool. Numeric had the dream of a flux analysis product, a cash reconciliation product, the full linking between the ERP system and their platform. And Numeric had the dream of AI,” Kevin Moore, controller at Brex, said in a statement. “I think ultimately that implementing Numeric is one of the best decisions I’ve made as controller over my seven years at Brex.”
Numeric said it plans to launch additional products throughout 2026 and 2027, each designed to automate a different critical accounting workflow.
Numeric said its approach combines AI for pattern recognition with deterministic code for calculations and human oversight for exceptions. The platform approach is underpinned by Numeric’s AI philosophy: “Use it thoughtfully, not indiscriminately,” the company said.
“AI is powerful, but imperfect. Most importantly, accounting can’t tolerate errors compounding,” Gilbert said. “We route the right work to the right operator: AI to interpret unstructured data, code to handle calculations with precision, and humans to add context and make judgment calls.”
More information about Numeric can be found here.
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