The Association of International Certified Professional Accountants and CPA.com have selected five early-stage ventures to participate in an accelerator. The program was launched in 2017 in recognition of the ongoing digital transformation taking place in financial services.
Erik Asgeirsson, president and CEO of CPA.com, says the way the world collects and analyzes financial information has changed radically:
“We’re seeing incredible innovation in advisory services and the business support of clients, and the companies in our startup accelerator are a great reflection of that momentum.”
The Fintechs participating in the accelerator program are as follows:
- ByteChek – The Miami-based company’s platform and unique integrations create an automated experience for service organizations working toward a System and Organization Controls (SOC) 2 report. Organizations license the product and CPAs review the results.
- ElectroNeek – Robotic Process Automation (RPA) removes the headache of repetitive, rule-based tasks that consume too much time for accounting firms and finance teams in companies of all sizes. ElectroNeek empowers its partners to deliver automation to accounting clients free of any software charges, making RPA more accessible.
- Guardd, Inc. – The Denver-based company provides critical support for secondary market trading of private company securities. GUARDD is a financial disclosure tool that collects, verifies, and disseminates private company information, including financial data, facilitating transparency for investors and allowing private companies to compliantly trade on Alternative Trading Systems.
- Saasable – Recurring revenue is a key metric for businesses but is difficult to capture and benchmark. Saasable, based in Burlington, Vt., allows clients to automate daily recurring revenue data, customize it and share it with users. Results can be measured against SaasIQ, the company’s artificial intelligence-driven benchmarking tool for small and medium-sized businesses.
- Valid8 Financial – The company, based in Boulder, Colo., is reimagining financial audits and investigations. Valid8 extracts evidence from multiple types of systems and documents to create a fully integrated transaction database to dramatically reduce sample risk and help accounting service professionals deliver “forensic-grade” financial audits with 80 percent less time spent on data preparation.
Each accelerator company will be able to present information about their business in June at ENGAGE 2021, an event for the accounting profession sponsored by the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA).