InScope: The AI-Powered Platform Revolutionizing Financial Reporting

Mary Antony and Kelsey Gootnick, both with extensive experience in accounting, recognized the inefficiencies in traditional financial reporting platforms and decided to address the issue. Their startup, InScope, leverages AI to automate various aspects of financial statement preparation, targeting a 20% time-saving for accountants.

The company recently secured $14.5 million in Series A funding led by Norwest, with participation from Storm Ventures, Better Tomorrow Ventures, and Lightspeed Venture Partners. InScope has experienced rapid customer growth, with notable adoption by top accounting firms like CohnReznick, reflecting the industry's interest in streamlining financial reporting processes.

Despite potential hesitation from risk-averse accountants, the founders aim to eventually fully automate financial statement preparation. Investors like Norwest partner Sean Jacobsohn are confident in InScope's potential to revolutionize financial reporting technology, highlighting the founders' unique expertise in the field, which sets the startup apart in this complex space.