Program Developed by Global Accounting Group and CPA.com Fosters Emerging Technologies that Aid the Profession
NEW YORK (Feb. 23, 2021) – Five early-stage companies pursuing a variety of solutions in finance, automated financial information, data preparation, artificial intelligence and assurance will form the 2021 cohort for an accounting-focused startup accelerator sponsored by the Association of International Certified Professional Accountants (the Association) and CPA.com.
The startup accelerator, begun in 2017, is designed to promote innovation in the accounting profession and give the Association and CPA.com more visibility into disruptive trends from emerging technologies. Finalists get a nominal funding investment and, over the course of the year, guidance on marketplace needs from a panel of experts in finance, accounting and innovation.
“The way the world collects, analyzes and verifies financial and business information has changed radically,” said Erik Asgeirsson, president and CEO of CPA.com. “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 members of this year’s group are:
- 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.
Besides access to experts and professional insights from the Association and CPA.com, each accelerator company will be able to present information about their business in June at ENGAGE 2021, a leading event for the accounting profession sponsored by the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA).
“The value proposition of many of our startup accelerator graduates has been validated by the acceleration of remote work and the proven advantages of automated solutions,” said Barry Melancon, CPA, CGMA, the Association’s CEO. “We’re proud of our work on this program and the success these companies have achieved.”
For more information about the startup accelerator, please visit cpa.com/accelerator.
CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the United States, with a growing global focus. Our company’s core mission is to drive the transformation of practice areas, advance the technology ecosystem for the profession, and lead technology research and innovation efforts for practitioners.
A subsidiary of the American Institute of CPAs, the company is also part of the Association of International Certified Professional Accountants, the world’s most influential organization representing the profession. For more information, visit CPA.com.
About the Association of International Certified Professional Accountants
The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 657,000 members and students across 179 countries and territories in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.