Boast.AI

Boast. AI, based in the US, specializes in R&D tax credit solutions, utilizing artificial intelligence to enhance tax claim processes for businesses in North America, specifically Canada and the United States. Boast. AI provides a platform that streamlines the preparation and submission of R&D tax claims.

Founded in 2011 and headquartered in San Francisco, US, the company recently underwent a financing round to support its growth. Key individuals include co-founders Alex Popa, Alico T, and Lloyed Lobo, with Alex Popa serving as CEO. The company raised USD 100 mn in VENTURE DEBT financing from Brevet Capital Management on February 17, 2021, as part of a larger USD 123 mn equity and debt financing. The total amount raised by the company is USD 23 mn.

Boast. AI offers an AI-driven R&D tax credit solution that automates the claim process, identifying eligible R&D activities throughout a company’s product development cycle. Their services include project identification, evidence collection, proactive audits, and strategy formulation. Clients benefit from their expertise, allowing them to access significant funds available for R&D tax credits, thereby fostering growth and innovation across various sectors.

Boast. AI generates revenue through a subscription-based model where clients pay fees for managing their R&D claims. Their offerings ensure compliance and efficiency, allowing businesses to maximize their claims while minimizing the administrative burden. Notable products include AuditShield and QuickFund, which are integral to their service delivery.

In February 2021, Boast. AI raised USD 100 mn in venture debt financing to launch a financing platform aimed at providing startups with cash advances on R&D tax credits and subsidies. The company plans to expand its operations into new geographic markets, focusing on enhancing accessibility to its tax credit services. The recent funding will support these initiatives, facilitating the growth of Boast.

AI's client base and improving its technology offerings.