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

InScope raised 14.5 million dollars in Series A funding led by Norwest. Storm Ventures and existing backers Better Tomorrow Ventures and Lightspeed Venture Partners joined the round. Co-founders Mary Antony and Kelsey Gootnick launched the AI-powered financial reporting platform in 2023 after meeting at Flexport seven years earlier. The startup automates manual tasks in financial statement preparation such as math verification and formatting. Antony said ensuring dollar signs and commas are uniform can save accountants up to 20 percent of their time. The company has not yet fully automated generation of income statements and balance sheets. InScope grew its customer base by five times over the last 12 months with clients including CohnReznick. Norwest partner Sean Jacobsohn said he invested after multiple clients reported that the product saves time. He added that the complex space requires founders with direct buyer experience.