Numra, an Irish AI-powered financial automation platform, has announced that it has raised €1.5 million in funding.
Numra, formerly Autonifai, describes itself as an AI solution for finance teams looking to streamline their operations to achieve greater productivity and accuracy in financial management.
The company says its technology allows workers to offload time-consuming tasks such as data entry, reconciliations, and error investigations.
Numra said will use the additional funding to hire across product and engineering, drive further product development, and expand to the US market.
“AI will have a transformative impact on the role of accountants and finance departments everywhere,” said David Kearney, co-founder and CEO of Numra.
“At Numra, our AI’s capability to ingest and process vast amounts of unstructured data enables us to redefine the boundaries of productivity and transform how finance departments operate,” Mr Kearney said.
The funding round was led by Elkstone.
“Numra is the perfect example of how Irish innovators are leveraging artificial intelligence to address the current and future challenges in sectors such as finance,” said Niall McEvoy, Venture Partner at Elkstone.