Numeric Raises $51M Series B, Bringing Total Funding to $89M to Expand AI Accounting Platform

Numeric, a San Francisco- and London-based AI-powered accounting automation company, has rapidly built momentum in the enterprise finance technology space, attracting significant venture backing as it works to modernize accounting workflows. Founded in 2020 by Anthony Alvernaz, Parker Gilbert, and Andrew Bihl, the company develops software designed to automate time-intensive finance processes such as month-end close, reconciliations, and analytics, enabling finance teams to move away from manual, spreadsheet-driven work toward real-time, data-driven decision-making.

Numeric first secured institutional capital in May 2024, when it raised a $10 million seed funding round to accelerate product development and early customer acquisition. The seed round was backed by a group of well-known venture firms, including Founders Fund, Menlo Ventures, 8VC, Long Journey, and Friends & Family Capital. This early financing provided Numeric with the resources to build its core platform and begin expanding its engineering and go-to-market teams.

Building on early traction, Numeric announced a $28 million Series A round in October 2024. The round was led by Menlo Ventures, reaffirming its conviction in the company’s long-term vision. New investors joining at the Series A stage included IVP and Socii Capital, both of which focus on backing high-growth enterprise software companies. Existing investors Founders Fund, 8VC, Long Journey, Access Industries, and Friends & Family Capital also participated, continuing their support as Numeric scaled its product and customer base.

The Series A capital was directed toward expanding Numeric’s engineering organization, enhancing automation capabilities across its platform, and supporting rising customer demand. During this period, the company reported strong growth, with revenue increasing several-fold year over year as more finance teams adopted its tools to streamline close processes and improve visibility into financial data.

In November 2025, Numeric reached another major milestone with the close of a $51 million Series B funding round, bringing its total capital raised to approximately $89 million. The Series B was led by IVP, with continued participation from Menlo Ventures, Founders Fund, 8VC, Socii Capital, Access Industries, Friends & Family Capital, and Long Journey. The round also introduced new investors, including Alkeon Capital and Fifth Down Capital, further strengthening Numeric’s investor base.

Alongside institutional investors, the Series B included participation from experienced finance and software executives, reflecting confidence in Numeric’s product vision and leadership. The newly raised capital is being used to expand Numeric’s platform beyond month-end close automation into broader finance operations, including cash management and real-time reconciliation tools.

Numeric has stated that the funding will support continued product innovation, hiring across engineering and customer success teams, and expansion into new markets. As demand for AI-driven finance tools grows, the company aims to position itself as a core system of record for modern accounting teams.

With strong backing from leading venture firms and sustained revenue growth, Numeric’s funding trajectory highlights increasing investor confidence in software that applies artificial intelligence to foundational finance workflows. The company’s ability to raise multiple large rounds in a short time frame underscores its ambition to redefine how accounting teams operate in an increasingly automated enterprise environment.