InScope nabs $14.5M to solve the pain of financial reporting

InScope, an AI-powered financial reporting platform founded by former Flexport colleagues Mary Antony and Kelsey Gootnick, has secured $14.5 million in Series A funding led by Norwest, with participation from Storm Ventures and existing backers. The company aims to solve the tedious and manual challenges associated with preparing financial statements, which often involve patching together spreadsheets and Word documents. While not yet fully automating income statements and balance sheets, InScope automates significant busy work like verifying math and formatting, potentially saving accountants up to 20% of their time. The startup has seen 5x customer base growth in the last year, attracting major firms like CohnReznick. The ultimate goal remains full automation, despite the risk-averse nature of the accounting profession.

(Source：TechCrunch)