Bulletin: Boast.ai raises $100M from Brevet Capital
New financing is in addition to Boast.ai's $30M Series A led by Radian Capital that was announced last December.
Boast.ai announced today that it has secured a $100 million credit facility from Brevet Capital, an 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. Boast.ai is a software innovator whose flagship product automates the complex process of applying for R&D tax credits.
According to a company statement, this new financing is in addition to Boast.ai's $30M Series A led by Radian Capital that was announced December 10, 2020.
Boast.ai has helped more than 1,000 innovative companies to recover R&D costs from the U.S. and Canadian government, streamlining the process and reducing the risk of costly audits.
Boast.ai'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, ensuring nothing is missed and all the supporting documentation is in place, leading to larger refunds with less investment of time and resources.
Boast.ai was recently named among the top 25 machine learning startups to watch by Forbes.