Numeric

The story of Numeric begins with a familiar frustration in the world of finance and accounting. Parker Gilbert, one of the co-founders, experienced firsthand the painstaking and often manual processes involved in managing a company's financials. As the first accounting and finance hire at a venture-backed startup, he was thrown into the deep end, grappling with cumbersome tasks like exporting trial balances, endless manual data entry, and the chaotic scramble to gather documents for auditors. The existing tools on the market presented a frustrating dilemma: they were either powerful but took months to implement, or they were easy to set up but lacked the robust functionality to make a real impact. This personal pain point became the seed of an idea. Recognizing the widespread nature of this problem, with accountants nationwide buried in repetitive tasks and a significant talent shortage looming over the profession, Parker Gilbert, along with co-founders Anthony Alvernaz and Andrew Bihl, set out to build the solution they wished they had.

What started as a mission to alleviate the daily grind for accounting professionals has evolved into a sophisticated, AI-powered platform that is reshaping the future of accounting. Initially known as Velocity, the company rebranded to Numeric to better reflect its core mission: bringing order and clarity to financial data. Founded in 2020, Numeric has rapidly gained traction, attracting hundreds of companies, from high-growth startups to publicly traded enterprises like Plaid, Brex, and Wealthfront. The company's journey has been fueled by significant investment from top-tier firms such as Founders Fund, Menlo Ventures, and IVP, enabling them to accelerate product development and expand their team. Numeric's approach is not just about tacking on quick fixes; it's about a first-principles rethinking of how accounting should operate in the modern era. By focusing initially on the month-end close, they are building a foundational platform that empowers accountants to move beyond manual tasks and become strategic advisors, ultimately helping businesses make better, more informed decisions based on accurate and timely financial data.