Inscope Raises $14.5M Series A for AI Financial Reporting

In a significant move poised to redefine enterprise financial operations, Inscope, an innovator in AI-powered financial reporting, has successfully closed a $14.5 million Series A funding round. The investment was spearheaded by leading venture capital firm Norwest Venture Partners, with additional participation from Storm Ventures. This capital infusion underscores growing investor confidence in solutions that bring automation and integrity to the often-arduous process of financial statement preparation.

For decades, the backbone of corporate accounting—financial reporting—has remained stubbornly reliant on manual processes. Controllers and finance teams routinely grapple with disparate spreadsheets, word documents, and email chains, leading to prolonged closing cycles, reconciliation headaches, and heightened audit risk. This persistent analog approach in a digitally transforming world has created a multi-billion dollar market ripe for disruption, particularly as regulatory complexities and demands for real-time financial insights continue to escalate.

Inscope directly addresses these pain points with its intelligent platform, purpose-built for both enterprises and accounting firms. Co-founded by Mary Antony, CEO, and Kelsey Gootnick, COO—both seasoned CPAs and former controllers—the company leverages deep domain expertise. Their firsthand experience with late nights spent reconciling figures and managing audit pressures informed the development of a system that embeds AI directly into the workflow. The platform links statements to source data, automates over 60% of preparation tasks, and streamlines reviews without compromising auditability. The leadership team also includes CTO Jared Tibshraeny and Head of AI Ankit Arya, driving the technological innovation.

Since its launch in 2024, Inscope has demonstrated remarkable traction, rapidly expanding its footprint in the market. The company has seen its customer base grow more than fivefold and achieved an impressive 30x increase in Annual Recurring Revenue (ARR). This rapid adoption highlights the critical need for a solution that not only accelerates financial closes but also instills greater confidence in the accuracy and reliability of financial outputs, a paramount concern for CFOs globally.

Norwest Venture Partners' decision to lead this round aligns with its established strategy of backing transformative companies within the Office of the CFO ecosystem. The firm boasts a robust portfolio in this sector, including successful ventures like Adaptive Insights (acquired by Workday) and FloQast, among others. This investment in Inscope reflects a broader market trend where AI is no longer a futuristic concept but a practical tool for solving legacy enterprise challenges, particularly in areas like financial reporting that are characterized by unstructured data and repetitive, judgment-heavy workflows.

The funding will enable Inscope to accelerate product development, expand its market reach, and further solidify its position as a leader in the financial reporting automation space. As businesses increasingly demand faster, more accurate, and auditable financial insights, platforms like Inscope are poised to become indispensable, setting a new benchmark for how trust, automation, and intelligence converge in the modern finance function. This investment signals a clear path towards a future where manual drudgery in financial reporting becomes a relic of the past.