Neo.tax, Inc.

Neo. tax, Inc. automates R&D tax credit and software capitalization processes, enhancing compliance for tax and accounting teams through AI technology, resulting in efficient and audit-ready outputs. Founded in 2019 in Mountain View, US, Neo.

tax, Inc. specializes in automating the R&D tax credit processes. The company recently raised USD 10 mn in Series A funding on February 10, 2022, led by Infinity Ventures, with participation from Acrew Capital, Fin Venture Capital, Floodgate, GV, Liquid 2 Ventures, Lux Capital, and Uncork Capital. Ibrahim brahim serves as the CEO, and he, along with Firas Abuzaid, founded the company with a strong focus on tax compliance solutions for technology firms.

The company has completed 4 deals since its inception and has a current valuation of USD 54. 98 mn. Neo. Tax specializes in automating the R&D tax credit and software capitalization processes, enhancing tax compliance and financial reporting for tax and accounting teams.

The platform employs AI technology to produce audit-ready outputs based on contemporaneous documentation in line with IRS standards, integrating seamlessly with engineering tools. Neo. Tax primarily serves technology and software development organizations, helping them accurately document R&D activities for tax purposes across North America. Neo.

Tax operates on a subscription-based revenue model, offering clients access to its AI-powered platform that simplifies the R&D tax credit and software capitalization processes. This structured pricing plan allows companies to select service tiers according to their needs, resulting in cost savings and increased efficiency. The B2B model of Neo. Tax facilitates swift generation of accurate, audit-ready outputs for tax and accounting departments while reducing the need for external advisors, with a focus on comprehensive support for R&D tax credit studies.

Following its recent funding round in February 2022, Neo. tax, Inc. plans to utilize the USD 10 mn raised to enhance access for small businesses and accountants to research and development tax credits. The company is looking to expand its offerings and reach more markets with a strategic focus on increasing its client base in various sectors that benefit from R&D tax credits.

Specific new products are currently in the design phase, with plans for a gradual rollout in the upcoming year.