InScope, a startup founded by seasoned accountants with experience at companies like Flexport, Miro, Hopin and Thrive Global, has secured US$14.5 million in funding to address one of the most persistent challenges in business finance: preparing accurate, audit-ready financial reports. The raise was announced via TechCrunch, highlighting investor confidence in the company’s mission to automate and simplify a process that many teams still handle manually.
Financial reporting, the creation of income statements, balance sheets, cash flow reports and supporting disclosures, remains a notoriously complex and error-prone task for companies of all sizes. Even with modern accounting systems, generating compliant and timely reports often requires hours of manual work, reconciliation across disparate spreadsheets, and deep subject matter expertise. InScope’s founders argue that this pain point is not a niche problem but one shared across industries, especially as businesses grow and regulatory demands multiply.
InScope’s solution centres on automating repetitive and technical aspects of reporting. By integrating with accounting ledgers and other financial data sources, the platform can pull transaction records, apply accounting logic, generate draft statements, and surface anomalies or inconsistencies for human review. Early adopters say this approach cuts down reporting cycles from weeks to days, improves accuracy, and frees finance teams to focus on analysis instead of data wrangling.
Investors backing the $14.5 million round see the opportunity in what they describe as “the backbone of every company.” Financial close and reporting workflows are foundational to corporate governance, compliance, and investor transparency, yet many tools in the market have not meaningfully modernised how they handle these core functions. InScope’s pitch resonates with the broader trend of AI and automation entering back-office operations, where efficiency gains can unlock real cost savings and reduce risk.
The funding will be deployed to accelerate product development, bolster integrations with key accounting systems, and expand InScope’s team to meet growing customer demand. The startup’s leadership emphasizes that while automation is a cornerstone, the product is designed to augment, not replace, skilled accountants and finance professionals. InScope’s platform aims to handle technical execution while leaving judgment calls and strategic decision-making to human experts.
Experts note that financial reporting automation can also enhance audit readiness. Traditional audit cycles often reveal discrepancies late in the process, forcing finance teams into reactive firefighting. By ensuring data integrity and consistent logic with automated pipelines, companies may find their annual audits smoother and less resource-intensive.
The raise also reflects broader investor interest in enterprise automation tools that optimise critical business functions. InScope is part of a growing cohort of startups applying software and AI to historically manual domains, from contracts and procurement to resource planning and compliance. As businesses continue to digitize core infrastructure, solutions that reduce friction and risk are more appealing to both founders and backers.
Market demand for financial automation is particularly strong among mid-sized businesses, where teams often lack the scale of enterprise finance organisations but face similar reporting complexities. InScope’s early traction suggests that the pain of preparing statements, once considered a cost of doing business, is increasingly seen as a problem that technology can meaningfully solve.
Looking ahead, InScope plans to refine its automation models, extend support for more reporting frameworks, and deepen partnerships with accounting platforms. The company believes that scalable, compliance-centric reporting is no longer a luxury but a necessity as capital markets, regulators and stakeholders demand greater transparency and speed.
InScope’s $14.5 million raise signals confidence in a future where financial reporting is less about wrestling spreadsheets and more about delivering insights and value. Whether the startup can capture significant market share will depend on how well its technology works across diverse accounting environments and regulatory regimes, but investors are betting that the days of manual report prep are numbered.
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