InScope Secures $14.5M to Automate Complex Financial Reporting for High-Growth Firms

InScope Secures $14.5M to Automate Complex Financial Reporting for High-Growth Firms

InScope, a San Francisco-based fintech startup founded by a team of seasoned accountants with prior experience at high-growth tech firms including Flexport, Miro, Hopin, and Thrive Global, has secured $14.5 million in Series A funding to revolutionize the way companies prepare financial statements. The capital infusion, led by existing investor Sequoia Capital and joined by new participant a16z, will be used to scale its AI-powered financial reporting platform and expand its enterprise sales team to meet surging demand from fast-scaling startups and mid-market companies.

Financial reporting remains one of the most time-consuming and error-prone tasks for finance teams at rapidly growing organizations. As companies scale, they often face a fragmented ecosystem of accounting software, disparate data sources, and manual reconciliation processes that delay closing cycles and increase compliance risk. InScope’s platform automates the aggregation, validation, and formatting of financial data into GAAP- and IFRS-compliant statements—eliminating the need for hours of manual spreadsheet work and reducing the dependency on external auditors during interim reporting periods.

According to TechCrunch, the founding team witnessed firsthand the inefficiencies of financial reporting while working at scaling startups. At Flexport, for instance, the finance team spent over 300 hours per quarter reconciling intercompany transactions across multiple subsidiaries. At Miro, similar challenges arose during rapid international expansion, where currency conversions and local regulatory requirements compounded reporting complexity. These experiences inspired the creation of InScope: a unified system that connects directly to ERPs like NetSuite, QuickBooks Enterprise, and SAP, pulls real-time transactional data, applies accounting rules programmatically, and generates audit-ready reports in minutes rather than days.

Unlike traditional accounting automation tools that focus on invoice processing or expense management, InScope targets the core of financial reporting—the preparation of balance sheets, income statements, and cash flow statements. Its proprietary engine uses machine learning to detect anomalies, flag inconsistent journal entries, and suggest corrections based on historical patterns and industry benchmarks. The platform also integrates with audit firms’ workflows, enabling seamless data transfer to tools like Workiva and CaseWare.

Early adopters include Series B and C startups in SaaS, logistics, and health tech, where CFOs report a 70% reduction in monthly close times and a 90% decrease in restatements. One customer, a $200M ARR SaaS company, previously required a full-time controller and two junior accountants just to manage reporting. With InScope, they’ve reduced their internal finance headcount for reporting functions by 60% while improving accuracy and audit readiness.

"We’re not trying to replace accountants," said CEO and co-founder Lena Ruiz, a former head of finance at Thrive Global. "We’re freeing them from repetitive, low-value tasks so they can focus on strategic analysis, forecasting, and business partnering. The goal is to turn finance teams into proactive advisors, not data clerks."

The $14.5 million round brings InScope’s total funding to $18.2 million since its 2024 launch. The company plans to use the new capital to enhance its compliance engine for international jurisdictions, launch a mobile dashboard for CFOs, and build a partner ecosystem with accounting software vendors and professional services firms.

As regulatory scrutiny on financial transparency grows and investors demand more frequent, accurate disclosures, the market for automated financial reporting is poised for significant expansion. InScope’s solution addresses a critical bottleneck that has long plagued high-growth companies—and with this funding, it’s positioned to become the de facto standard for modern finance teams.