On June 12, 2024, the San Francisco-based fintech company that uses AI to automate financial reportingInScopeannounced it has raised $4.3 million in seed funding. The round was led by Lightspeed Venture Partners and Better Tomorrow Ventures, along with a group of individual investors including Vipul Ved Prakash (founder and CEO of Together AI), Jake Heller (founder and CEO of Casetext), Debbie Clifford (CFO of Autodesk), Justin Coulombe (CFO of Miro), and Nadia Asoyan (CFO of Strike).
The company plans to use the raised funds to expand its customer base to 50 companies, scale its product, grow its team, and enhance its AI capabilities.
InScope was founded in 2023 by Mary Antony and Kelsey Gootnick. Both founders have accounting backgrounds and met in 2018 while working in accounting roles at Flexport. The company uses machine learning and large language models to provide financial reporting and audit processes for the mid-market and enterprise. InScope's main business is automating GAAP (Generally Accepted Accounting Principles) and non-GAAP reporting, including cash flow statements, and it plans to release features later this year to help customers draft annual and quarterly financial reports.
(Source:TechCrunch）