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Boast.ai raises $30 million from Radian Capital to “revolutionize” R&D tax credit market
Vancouver-based software startup Boast.ai has secured $30 million CAD in Series A financing from growth equity firm Radian Capital.
Boast.ai’s software platform automates the process for claiming R&D tax credits in the United States (US) and Scientific Research & Experimental Development (SR&ED) tax credits in Canada.
“Boast.ai is poised to…cement its position as the unified system of record for R&D data.”
An almost ten-year-old company, the $30 million represents the first institutional financing for Boast.ai, which bootstrapped its way to “eight-figures in revenue.” Boast.ai founders, Alex Popa and Lloyed Lobo, told BetaKit in an interview they are now looking to scale Boast.ai’s reach in order to tackle what they see as a sizable market opportunity.
U.S. Fintech Boast.ai Secures $23 Million Though Series A Funding Round Led By Radian Capital
December 10, 2020 @ 3:33 pm By Samantha Hurst
Boast.ai, a U.S.-based software innovator whose flagship product automates the complex process of claiming R&D tax credits in the US and Canada, announced on Thursday it secured $23 million through its Series A funding round, which was led by Radian Capital.
Founded in 2011, Boast.ai revealed it is building the future of tax credit management and recovery with artificial intelligence to help companies get larger returns faster without the manual work and audit risk.
“Each year the US and Canadian governments give out billions of dollars in R&D tax credits through a very manual and broken process. At Boast.AI, we are building the future of tax credit recovery with artificial intelligence so you can get larger returns without the grunt work and audit risk.”
Vancouver’s Boast Capital raises $30-million to rival accounting giants with R&D-tracking software Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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Lloyed Lobo, president at Boast Capital.
Boast Capital Ltd., a Vancouver startup that is trying to disrupt accounting giants with software designed to help companies claim research and development tax credits, has raised $30-million from New York’s Radian Capital.
Boast is best known for running one of Canada’s leading tech conferences, Traction, plus a range of events geared toward startups. It has used those events to recruit hundreds of customers to buy its product, which automates part of the cumbersome process of applying for research and development tax credits.