InScope Secures $14.5M Series A to Automate Financial Reporting with AI

InScope’s fresh capital injection marks a pivotal moment for fintech automation, positioning the Boston‑based startup as a serious contender in the $12 billion financial reporting software market. By leveraging generative AI to automate tedious spreadsheet reconciliations, formatting checks, and math verification, InScope aims to free finance teams from repetitive tasks and let them focus on strategic analysis.

Read the original announcement on TechCrunch for full details.

Founders’ Background: Accounting Expertise Meets Startup Agility

Mary Antony and Kelsey Gootnick are not typical tech founders; they are seasoned accountants who spent years navigating the labyrinth of financial statement preparation. Antony served as Assistant Controller at Flexport before moving to Miro, while Gootnick held the Controller role at the same logistics giant and later at Hopin and Thrive Global. Their shared frustration with legacy platforms—​such as Workiva and Donnelley Financial Solutions—​sparked the idea for InScope.

Both founders have a track record of building high‑growth products in fast‑paced environments, giving them the operational discipline required to launch a compliance‑heavy SaaS solution. Their deep domain knowledge is a rare asset that investors highlighted as a key differentiator.

The Pain Point: Manual, Error‑Prone Financial Reporting

Traditional financial reporting still relies heavily on:

• Copy‑pasting data across multiple Excel workbooks.
• Re‑formatting numbers, symbols, and commas manually.
• Coordinating version control via email threads.
• Repeatedly verifying calculations that could be automated.

These steps not only consume valuable time but also increase the risk of costly errors—​a concern for CFOs, audit committees, and regulators alike.

AI‑Driven Solution: How InScope Automates the Workflow

InScope’s platform embeds large‑language‑model (LLM) capabilities directly into the reporting pipeline. Key features include:

1. Math Verification Engine: The AI cross‑checks every line‑item against source data, flagging mismatches instantly.
2. Smart Formatting: Automatic insertion of dollar signs, commas, and consistent fonts across all statements.
3. Document Assembly: Generates draft 10‑K, 10‑Q, and other regulatory filings in minutes, ready for reviewer sign‑off.
4. Audit Trail Integration: Every AI action is logged, satisfying SOX and other compliance requirements.

According to Antony, the platform can shave up to 20 % of an accountant’s time from the reporting cycle—a tangible ROI for any finance organization.

Funding Details: Who’s Backing InScope?

The $14.5 million Series A round was led by Norwest, with participation from Storm Ventures, Better Tomorrow Ventures, and Lightspeed Venture Partners. The round reflects strong confidence in InScope’s product‑market fit and the scalability of AI‑enabled finance tools.

Norwest partner Sean Jacobsohn explained that the investment was driven by “the clear time‑saving benefits for finance teams and the founders’ rare insider perspective on the reporting process.”

Growth Trajectory: Five‑Fold Customer Expansion

Since its launch in 2023, InScope has expanded its client base by 5×, adding marquee accounting firms such as CohnReznick—​ranked among the top 15 in the United States. The platform now serves mid‑market enterprises, public companies, and boutique advisory firms.

Key adoption metrics:

Market Potential: A $12 B Opportunity

The global market for financial reporting software is projected to exceed $12 billion by 2028, driven by regulatory pressure and the need for faster close cycles. While accountants are traditionally risk‑averse, the pandemic‑accelerated shift to remote work has opened doors for AI‑first solutions.

InScope’s long‑term vision is full automation of income statements, balance sheets, and cash‑flow statements—​a goal that could redefine the role of the modern CFO from gatekeeper to strategic advisor.

Investor Perspective: Why Norwest Believes in InScope

Norwest’s investment thesis hinges on three pillars:

• Domain Expertise: Founders have lived the pain they aim to solve.
• AI Differentiation: Proprietary LLM pipelines that are purpose‑built for finance, not generic chatbots.
• Scalable SaaS Model: Recurring revenue, low churn, and a clear path to enterprise licensing.

Jacobsohn noted that “the product’s ability to embed compliance‑ready audit trails while delivering measurable efficiency gains is a rare combination in fintech.”

What This Means for CFOs, Finance Managers, and Investors

For finance leaders, InScope offers a concrete lever to:

• Accelerate month‑end close cycles.
• Reduce manual error rates and audit findings.
• Reallocate talent to higher‑value analysis and forecasting.
• Demonstrate digital transformation progress to boards and regulators.

Investors, meanwhile, can view InScope as a strategic play in the broader AI‑fintech wave, complementing other automation platforms that target procurement, payroll, and expense management.

How UBOS Can Accelerate Your AI‑Finance Journey

Companies looking to adopt InScope‑style automation can benefit from the broader ecosystem of AI tools offered by UBOS homepage. For instance, the AI marketing agents showcase how generative AI can be embedded across business functions, while the UBOS platform overview provides a low‑code environment to integrate third‑party APIs like InScope’s.

Startups can quickly prototype finance‑focused bots using the UBOS for startups track, and SMBs can leverage UBOS solutions for SMBs to scale AI‑driven reporting without massive IT overhead.

Enterprises seeking a robust, secure foundation can explore the Enterprise AI platform by UBOS, which includes built‑in compliance, role‑based access, and audit logging—features that align perfectly with InScope’s compliance‑first ethos.

Developers can build custom front‑ends with the Web app editor on UBOS, while process engineers can orchestrate end‑to‑end finance workflows using the Workflow automation studio. Pricing transparency is available via the UBOS pricing plans, and real‑world success stories are highlighted in the UBOS portfolio examples.

For teams that want to hit the ground running, the UBOS templates for quick start library includes ready‑made solutions such as the AI SEO Analyzer, AI Article Copywriter, and the AI Video Generator. These templates illustrate how generative AI can be repurposed for finance‑centric content, from investor decks to regulatory briefings.

Moreover, the AI Chatbot template and the GPT‑Powered Telegram Bot demonstrate rapid deployment of conversational assistants that can answer financial queries, mirroring InScope’s vision of AI‑augmented finance teams.

Future Outlook: From Assisted to Fully Autonomous Reporting

InScope’s roadmap envisions a future where the AI not only validates data but also generates narrative commentary, predicts variance drivers, and suggests corrective actions—all within a single, compliant document. As LLMs become more domain‑specific, the line between “assistant” and “autonomous accountant” will blur.

When combined with platforms like UBOS that provide modular AI components, the ecosystem could support end‑to‑end financial intelligence—from data ingestion to board‑room presentation—​without a single line of custom code.

Conclusion

The $14.5 million Series A round validates InScope’s belief that AI can meaningfully reduce the friction of financial reporting. With seasoned founders, a clear product‑market fit, and backing from top‑tier investors, InScope is poised to become a cornerstone of the next generation of finance automation.

Finance leaders eager to stay ahead of the curve should monitor InScope’s progress and consider complementary tools from the UBOS ecosystem to build a holistic, AI‑first finance stack.