Vancouver software firm Boast has raised $30 million from New York-based Radian Capital as it looks to improve its technology for automating clients’ research and development tax-incentive claims. The company is developing a financing product to launch in the new year, and plans to double its 35-person workforce over the next 12 months.
Companies have long turned to specialized consultants and accounting firms for R&D rebate applications, a process Boast CEO Alex Popa called “cumbersome, time consuming [and] manual.” Tech platforms like his promise to automate much of the paperwork. Consultants, however, argue that software can’t handle some parts of the process. And some critics say both the consultancy industry and the rise of companies like Boast are proof governments make it too hard for innovators to access benefits.