U.S. Fintech Boast.ai Secures $23 Million Although Sequence A Funding Spherical Led By Radian Capital

Boast.ai, a U.S.-based software program innovator whose flagship product automates the advanced technique of claiming R&D tax credit within the US and Canada, introduced on Thursday it secured $23 million by way of its Sequence A funding spherical, which was led by Radian Capital.

Based in 2011, Boast.ai revealed it’s constructing the way forward for tax credit score administration and restoration with synthetic intelligence to assist corporations get bigger returns sooner with out the handbook work and audit threat.

“Annually the US and Canadian governments give out billions of {dollars} in R&D tax credit by way of a really handbook and damaged course of. At Boast.AI, we’re constructing the way forward for tax credit score restoration with synthetic intelligence so you will get bigger returns with out the grunt work and audit threat.”

Whereas sharing extra particulars concerning the firm’s progress, Alex Popa, co-founder and CEO of Boast.ai, said:

“R&D is the engine of the fashionable economic system, and revolutionary corporations ought to be capable of entry the tax credit they’re entitled to. We’ve spent nearly a decade honing our craft to assist clients get more cash, sooner and with much less threat, in comparison with another answer available in the market. We empower corporations from startups to giant enterprises to quantify the worth of their R&D efforts, then leverage that asset by way of a profitable R&D tax credit score software which permits them to develop their enterprise with out pointless exterior capital.”

Radian Capital Companion, Jordan Bettman, added:

“Since its launch, Boast.ai has been doubling progress yr over yr, securing over $150M in R&D tax credit for patrons with out elevating exterior capital. That’s precisely the form of monetary self-discipline and savvy execution our agency appears to be like to assist. With this infusion of latest capital behind a game-changing enterprise software program answer, Boast.ai is poised to revolutionize the way in which companies fund their progress and cement its place because the unified system of file for R&D knowledge.”

Boast.ai went on so as to add with this funding, it should additional develop its AI-powered platform to higher serve almost 1,000 clients, launch new merchandise to assist corporations leverage their eligibility for innovation incentives, and speed up enlargement into new markets.