InScope Raises $14.5M For AI Financial Reporting

InScope has secured $14.5 million in fresh funding to attack one of finance’s oldest headaches: turning messy, multi-source data into compliant, submission-ready financial statements. The Series A was led by Norwest with participation from Storm Ventures and existing investors Better Tomorrow Ventures and Lightspeed Venture Partners, signaling strong conviction that AI can streamline the last-mile work surrounding 10-Ks, 10-Qs, and annual audits.

Founded by longtime accountants-turned-operators Mary Antony and Kelsey Gootnick, InScope focuses on the painstaking checks that bog down reporting teams—arithmetic verification, formatting consistency, cross-document tie-outs, and narrative alignment—rather than trying to instantly generate an entire set of financials. The practical bet: shave hours from the tedious 20% of work that still consumes review cycles and late nights.

What InScope Automates Today in Financial Reporting Workflows

Early users employ InScope to police the details that derail filings—uniform dollar signs and commas, rounding consistency, schedule roll-forward accuracy, and cross-references that actually reconcile. The system flags mismatches between tables and footnotes, highlights inconsistent disclosures across periods, and surfaces math breaks before an auditor does. According to CEO Mary Antony, those controls alone can reclaim up to 20% of an accountant’s time during peak reporting windows.

Crucially, InScope keeps a human in the loop. Outputs are designed for review, with transparent change logs and justification trails that fit existing sign-off workflows. That posture matters for a profession that prizes auditability and documentation over black-box magic.

Why This Market Is Ripe for AI in Financial Reporting

Financial reporting is already a multibillion-dollar software category dominated by incumbents like Workiva and Donnelley Financial Solutions. Workiva’s most recent filings show annual revenue above $600 million, while Donnelley Financial operates around the $1 billion mark—evidence that compliance workloads remain heavy and budgets substantial.

At the same time, requirements keep expanding. The SEC’s Inline XBRL mandate, heightened emphasis on internal controls under SOX, and the European Union’s Corporate Sustainability Reporting Directive are pushing filers to harmonize narrative and numeric disclosures across financials and ESG. Analysts at Gartner have noted that many finance teams still spend well over half their time on data collection and reconciliation rather than analysis—precisely the bottlenecks AI is well-suited to reduce.

InScope is positioning itself between ERP data and the final submission package, focusing on the error-prone assembly layer where spreadsheets, narrative drafting, and last-minute edits collide under deadline pressure.

Traction With Firms and Finance Teams Across Audits

Over the past year, InScope reports a 5x increase in customers, including adoption by CohnReznick, one of the nation’s largest accounting firms. That matters: if external auditors and advisors are familiar with the tooling and trust its controls, controllers and chief accounting officers are more likely to bring it into their close and reporting routines.

The company targets both in-house reporting teams and service providers, reflecting how many mid-market and late-stage private companies lean on advisors for peak-period lift. The aim is consistent: fewer review cycles, faster tie-outs, and cleaner auditor handoffs.

Risk Management and the AI Adoption Curve in Reporting

Accountants are risk-averse by design. Any AI used in filings must be traceable, deterministic where it counts, and safe for sensitive data. Expect InScope to emphasize SOC 2, role-based access controls, immutable audit logs, and granular approvals—features that map directly to PCAOB and AICPA expectations during audits.

The near-term value is not in writing an income statement from scratch, but in eliminating preventable errors and accelerating consensus. A defensible human-in-the-loop approach—paired with explainable checks instead of opaque recommendations—will likely separate winners from pilots that never escape the sandbox.

Competitive Landscape and Founder Edge in Reporting

Incumbents such as Workiva and Donnelley anchor the filing stack; close-management and controls platforms like BlackLine, FloQast, and Trintech streamline upstream processes. InScope’s wedge is the last-mile assembly of external reports and disclosures, where format fidelity, narrative-data alignment, and cross-period consistency create costly friction.

Antony and Gootnick bring credibility as former controllers and finance leaders at high-growth companies, where quarter-ends move fast and controls must keep up. That operator perspective—knowing exactly which spreadsheet tabs break at 2 a.m.—is often what turns an AI feature set into a product finance teams trust.

What Comes Next for InScope’s AI Reporting Platform

With new capital, watch for deeper integrations into ERP and consolidation systems, richer reconciliation logic, and policy-aware drafting aids that reference the FASB codification without drifting into creative writing. XBRL validation and ESG narrative-data consistency are logical adjacencies as global reporting rules converge.

The KPI that will matter most is cycle time: fewer rounds of review, fewer tie-out breaks, and measurable reductions in time-to-file. If InScope can deliver double-digit time savings across multiple reporting periods while maintaining audit readiness, it will have earned a seat alongside the tools finance teams already rely on when the stakes are highest.