San Francisco-based Numeric, the AI-driven accounting automation platform, announced a $51 million Series B funding round led by IVP, marking a major milestone in the company’s expansion beyond close management into a unified finance platform for enterprises.
Founded in 2020 by Parker Gilbert (CEO), Anthony Alvernaz (CPO), and Andrew Bihl (CTO), Numeric is an AI accounting automation platform designed to remove manual work from accountants’ plates. Its unified approach spans close management, analytics, and cash management, empowering finance teams across hundreds of companies globally to close faster and work smarter.
Funding to Fuel Product Expansion and AI Innovation
The latest investment, which brings Numeric’s total funding to $89 million, includes top-tier investors such as Menlo Ventures, Founders Fund, Alkeon, 8VC, and notable finance leaders including Marc Huffman, former CEO of BlackLine, and Ron Gill, former CFO of NetSuite. The capital will accelerate Numeric’s rollout of new products, including its recently launched cash management solution that automates the historically painful cash reconciliation process many finance teams face.
Solving Finance’s Biggest Bottlenecks with AI
Numeric’s cash management product stands out with a 90%+ automatic transaction match rate—nearly triple the industry standard – helping clients like Brex dramatically reduce manual reconciliation efforts. The platform combines AI-powered pattern recognition with deterministic coding and human oversight to ensure unmatched accuracy and efficiency.
CEO Parker Gilbert explained, “We started by solving the close, but our vision has always been greater. 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.”
Trusted by Leading Finance Teams
Investors praised Numeric’s execution and deep market understanding.
“Numeric has consistently demonstrated exceptional product execution and deep understanding of what finance teams actually need. 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.” said Ajay Vashee, General Partner at IVP
Brex, an early adopter, saw match rates jump from 30% to over 90%, dramatically reducing manual work.
“Implementing Numeric is one of the best decisions I’ve made as controller over my 7 years at Brex.” said Kevin Moore, Controller at Brex
Numeric last raised its $28 million Series A round in October 2024 led by Menlo Ventures.
