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DARRYL DYCK/The Globe and Mail
Technology companies in Canada are running into an age-old frustration as they vie for talent in a highly competitive hiring landscape: It’s tough to find qualified workers.
With the wider labour market still in recovery mode, the tech sector stands out. It’s not only managed to get through the pandemic with minimal damage, but many companies – from fledgling startups to industry stalwarts – are firmly in expansion mode.
Boast ai looks to expand hires in Montréal as part of broader hiring spree across Canada
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SAN FRANCISCO, Feb. 17, 2021 /PRNewswire/ Boast.ai, a software innovator whose flagship product automates the complex process of applying for R&D tax credits, has secured a $100 million credit facility from Brevet Capital, a leading alternative credit investment and specialty finance firm, to launch an innovative financing platform enabling startups to receive cash advances on R&D tax credits and subsidies.
This new financing is in addition to Boast.ai s $23M Series A led by Radian Capital that was announced last December. Announcing the deal today, Boast.ai said the novel financing vehicle would simplify the R&D credit process and fuel innovation.
Boast.ai has helped more than 1,000 innovative companies to recover R&D costs from the US and Canadian government, streamlining the process and reducing the risk of costly audits.
The company’s R&D tax credit software gathers data from a company’s existing technical and financial systems to identify, categorize, and time-track eligible projects. Boast.ai says it ensures “nothing is missed and all the supporting documentation is in place, leading to larger refunds with less investment of time and resources.”
“R&D is the engine of the modern economy, and innovative companies should be able to access the tax credits they’re entitled to,” says Co-founder and CEO Alex Popa.
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