Boast unveils new brand and record growth one year after its $123M round
Fintech platform company that helps Canadian and US startups automatically claim their R&D tax credit reveals new branding and announced record growth.
Boast (formerly known as Boast Capital) is a fintech platform that 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.
The company grew from the desire to upend a broken process that had existed for years—the tax credit process. Boast developed a new technology that sped up the process, and as a result, has experienced fast and steady growth and a nearly 100 percent client retention rate.
From bootstrapping to $123M capital raised
Co-founders Alex Popa and Lloyed Lobo bootstrapped the company into multi-million dollars in annual revenue before finally raising their first round, a USD $23 million Series A in December of 2020 led by Radian Capital.
The massive Series A was quickly followed by a USD $100 million debt facility from Brevet Capital in early 2021 to support its mission to accelerate innovation through tax incentives and R&D intelligence.
Boast’s QuickFund™ platform now allows founders to submit their application within minutes and access to non-dilutive advances on their accrued tax credits quarterly throughout the year instead of waiting for their fiscal year-end.
3X team growth in one year and more
Boast has grown from what was once a small team in a Gastown office, to 35 people last January, and now to 110 motivated individuals across the globe—all on a mission to help innovative companies find success.
Last Summer, Alex and Lloyed started building out its executive team by hiring industry heavyweights. They also recruited Laurie Schultz to join Boast’s board of directors. She was most recently the CEO of Galvanize, a SaaS governance, risk management and compliance (GRC) software company that was acquired for $1 billion by Diligent Corporation.
Since its last round, Boast has doubled revenue, clients, and tax credit filings, and yet still managed to keep their culture—a key part of the Boast’s experience—intact and healthy. (PS: they’re a remote-first company and are actively hiring).
As part of the rebrand, Boast launched a new website and resource centre where founders can get fresh content about innovation, tax credit and accelerating their business growth.
Innovative companies grow 260 percent faster than average companies. Boast will help companies access the billions of dollars available in R&D tax credits and funding to improve insights and grow faster.
Boast is creating technology and partnerships to provide faster innovation through tax incentives and R&D intelligence.
Ready to recoup a portion of your product development cost through tax credit? Want to stop doing your SR&ED manually or get SR&ED financing? Book your free consult at https://boastai.grsm.io/VTJ or reach out to Anastasia Hambali at email@example.com. If you’re interested in a career with Boast’s fast-growing team, please visit https://boast.ai/careers