San Francisco-based Numeral spearheading the future of accounting for high-volume businesses.
Numeral, the subledger for high-volume businesses, announced today the closing of its oversubscribed seed round. The company has raised $3,000,000 in this recent round led by Bienville Capital with participation from AngelList Quant Fund, executives from Kruze Consulting, and accounting leaders at high-volume businesses.
“Accounting leaders at high-volume businesses face no shortage of pain points when it comes to financial reporting. Transaction-level cash reconciliation and revenue reporting are common problems, but just the tip of the iceberg,” said Christopher Kim, Founder and CEO of Numeral.
Numeral brought to market its real-time subledger for high-volume businesses since launching last June. They’ve since garnered traction within numerous industries at high-volume companies including AllTrails, Gabb Wireless, Scribd, Hipcamp and Elysium Health.
Numeral added that capital from the raise will go towards headcount growth and continued investment in product development. “Enterprise-grade software for the CFO suite has historically been cumbersome to implement, often requiring expensive third-party consultants and lengthy implementation timeframes,” said Kim. “Numeral is bridging the gap between accounting and engineering to be a self-serve product for our end users, accountants.”
Numeral offers a transformative solution in the accounting sector, tackling the issues of data fragmentation, accounting complexity, and high-volume that rapidly growing businesses commonly face.
The company’s primary offering is a modern subledger built to handle limitless transaction volume with early use cases being transaction-level cash reconciliation, revenue reporting and data reconciliation.
“This is a significant milestone for Numeral and allows us to further invest in our team, customers and technology,” said Kim. “There is a future that exists where every transaction and financially relevant event is accounted for in real-time, immediately upon it occurring. We’re accelerating to that future.”
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