InScope Secures $14.5M to Revolutionize the Tedious World of Financial Reporting

In a significant move for the accounting technology sector, InScope, an AI-powered financial reporting platform, has secured $14.5 million in Series A funding. This substantial investment, announced on October 13, 2025, and led by Norwest Venture Partners, signals a growing demand for solutions that tackle the notoriously manual and error-prone process of preparing financial statements like 10-Ks and 10-Qs. Founded by veteran accountants Mary Antony and Kelsey Gootnick, InScope aims to liberate finance professionals from spreadsheets and document chaos.

InScope’s Mission to Automate Financial Reporting

The genesis of InScope lies in the shared frustration of its founders. Both Mary Antony and Kelsey Gootnick held senior controller roles at high-growth companies like Flexport, Miro, and Hopin. Despite using established platforms, they consistently encountered the same manual bottlenecks. “The way financial statements come together, it’s just patched together in a lot of spreadsheets, moved into a bunch of Word documents, emailed back and forth between people,” Antony explained in an interview. This fragmented process is not only time-consuming but also increases the risk of human error in critical regulatory filings.

Consequently, they launched InScope in 2023 with a clear objective: to automate the tedious aspects of financial statement preparation. The platform specifically targets the manual busy work that consumes countless hours. For instance, it automates data verification, mathematical consistency checks, and document formatting. Simply ensuring uniform placement of dollar signs and commas can save accounting teams up to 20% of their time, according to Antony.

The Competitive Landscape and AI’s Role in Accounting

The financial reporting software market has long been served by legacy providers like Workiva and Donnelley Financial Solutions. These platforms offer structure but often still require significant manual intervention for data aggregation, formatting, and review cycles. InScope differentiates itself by leveraging artificial intelligence to handle these repetitive tasks more autonomously. However, the company acknowledges that full automation of income statement and balance sheet generation remains a future goal.

This cautious approach is strategic. The accounting profession is inherently risk-averse, especially concerning audited financial documents. Building trust in AI-driven outputs is a gradual process. Therefore, InScope focuses initially on augmenting human accountants rather than replacing them, automating the tedious work to allow professionals to focus on analysis, judgment, and strategic oversight.

Investor Confidence and Founder Expertise

The $14.5 million Series A round was led by Norwest Venture Partners, with participation from Storm Ventures and existing investors Better Tomorrow Ventures and Lightspeed Venture Partners. Norwest partner Sean Jacobsohn highlighted the unique founder-market fit as a key investment thesis. “It’s a very complex space, and you need to be able to have been in the shoes of the buyer before,” he stated. He noted that feedback from multiple clients confirmed the product’s significant time-saving value.

Antony and Gootnick represent a rare blend of deep domain expertise and startup operational experience. Accountants are not typically known for launching venture-backed startups, but their years in fast-paced tech company finance departments honed their entrepreneurial instincts and understanding of scalable processes.

Market Traction and Future Implications

InScope has demonstrated impressive early growth, increasing its customer base fivefold over the past twelve months. A significant validation of its platform comes from its adoption by major accounting firms, including CohnReznick, a firm ranked among the top 15 nationally. This adoption by large, established firms indicates a shifting sentiment within the profession towards AI-assisted tools.

The funding will likely accelerate product development, sales expansion, and further integration of advanced AI capabilities. The long-term vision is clear: to become the intelligent backbone for financial reporting, reducing close times, minimizing errors, and freeing up financial talent for higher-value work. The broader trend this investment underscores is the continued digitization and automation of back-office finance functions, a multi-billion dollar market opportunity.

The rise of platforms like InScope also reflects several key industry pressures:

• Regulatory Complexity: Increasing reporting requirements demand greater accuracy and efficiency.
• Talent Shortages: The accounting field faces a talent crunch, making productivity tools essential.
• Cost Pressure: Firms and corporate finance departments constantly seek to optimize operational costs.
• Technology Adoption: Post-pandemic acceleration of digital tool adoption across all business functions.

Conclusion

InScope’s successful $14.5 million Series A financing marks a pivotal moment in the evolution of financial reporting technology. By combining deep accounting expertise with targeted AI automation, the company is addressing a genuine and widespread pain point for finance professionals. While the journey toward fully automated financial statements continues, InScope’s current focus on eliminating manual drudgery is already delivering tangible value, as evidenced by its rapid customer growth and endorsement from major firms. This investment underscores a significant shift towards intelligent, software-driven solutions in the foundational world of accounting and financial compliance.

FAQs

Q1: What problem does InScope solve?
InScope automates the manual, tedious tasks involved in preparing financial statements, such as data verification, formatting, and consistency checks, which are typically done across multiple spreadsheets and documents.

Q2: Who are the founders of InScope?
The company was founded by Mary Antony and Kelsey Gootnick, both experienced accountants who previously served as controllers at high-growth technology companies like Flexport, Miro, and Hopin.

Q3: How much funding did InScope raise and who led the round?
InScope raised $14.5 million in a Series A funding round led by Norwest Venture Partners, with participation from Storm Ventures, Better Tomorrow Ventures, and Lightspeed Venture Partners.

Q4: Does InScope fully automate the creation of financial statements?
Not yet. The platform currently automates a significant portion of the manual work involved, with the long-term goal of more fully automating the generation of key statements like income statements and balance sheets.

Q5: What kind of companies are using InScope?
InScope has seen adoption from both companies and accounting firms. Notably, it has attracted business from major accounting firms like CohnReznick, indicating strong validation within the professional accounting community.