Alex Popa, co-founder and CEO
R&D and innovation have today become the lifeblood of any organization’s overall growth. As a result, companies invest a substantial amount of money and resources to fuel their innovations. However, business leaders struggle to track the innovation costs to ROI as they either lack the expertise to track it or use old-school and manual processes, which are costly, slow, inaccurate, and time-consuming. That’s where Boast.AI turns the tables.
By leveraging real-time data and AI, Boast.AI is leading the R&D tax credit frontier to help companies innovate. The company utilizes technology and automation to connect data sources like payroll, finance, engineering data, and project tracking and turn that data into eligible tax credit reports much more quickly and accurately. “Our tax credit technology is changing the game for CFOs, fractional CFOs, finance and technology leaders, and teams that want to file but don’t want all the work, stress, and risk, and we are leading this revolution,” says Alex Popa, CEO and co-founder at Boast.AI.
Our tax credit technology and approach is changing the game for CFOs, fractional CFOs, finance, technology leaders, and teams that want to file but don’t want all the work, stress, and risk. We are leading the revolution to help them succeed.” — Alex Popa, co-founder and CEO
Boast.AI’s proprietary software syncs with project management systems (JIRA, GitHub, etc.) to automatically categorize every ticket, capture every project, and account for all R&D time and effort. It integrates directly with tech stacks to extract R&D data and automate the manual and redundant data collection and analysis process.
At its core, Boast.AI is investing heavily in developing its technology to help further the innovation speed of its clients by speeding up tax claim reporting and access to tax credit funding, as well as creating more significant insights from data connected to its platform
“Using this approach, clients can save 5x the hours they’re spending on R&D, and that can be refocused into product development instead,” adds Popa. Being a fintech platform, Boast.AI is democratizing access to billions of dollars in R&D tax credits and innovation funding so companies can fuel their growth while preserving equity and avoiding red tape.
With its operations across the U.S. and Canada, more than 1,000 innovative companies have leveraged Boast.AI to get more money faster for less time and risk. For example, Rival Technologies, a fast-growth technology company, has disrupted the massive market research industry using innovation and SR&ED tax credits recouped in partnership with Boast.AI. With the help of Boast.AI, they have been able to increase R&D refunds in less time and reduced audit risk.
The company has been growing rapidly, with employee count increasing from 30 to over 100 in just the first half of 2021. They have also announced a series A funding round led by Radian Capital of USD $23M in December 2020 and a credit facility for tax credit funding of USD $100M in January 2021.
At its core, Boast.AI is investing heavily in developing its technology to help further the innovation speed of its clients by speeding up tax claim reporting and access to tax credit funding, as well as creating more significant insights from data connected to its platform. The company aims to help CEOs and financial and engineering leaders see where to invest for better R&D ROI. “Ultimately, inhouse accountants can use Boast.AI to speed up and improve their own tax credit filing process, accounting firms can work with Boast.AI as a partner to help bring greater tax credit services to their clients, CEOs can use Boast. AI to get more innovation dollars more quickly, and technology leaders use Boast.AI to dramatically lower the time spent each year on the tax credit filing process and to better see where to invest R&D efforts,” concludes Popa.