Boast.ai, a San Francisco, CA-based software company whose flagship product automates the complex process of applying for R&D tax credits, secured a $100m credit facility from Brevet Capital.
This new financing is in addition to Boast.ai’s $23M Series A led by Radian Capital that was announced last December.
The company will now launch an innovative financing platform enabling startups to receive cash advances on R&D tax credits and subsidies.
Led by CEO Alex Popa, Boast.ai has helped more than 1,000 innovative companies to recover R&D costs from the U.S. and Canadian government, streamlining the process and reducing the risk of costly audits. Its R&D tax credit software gathers data from a company’s existing technical and financial systems to identify, categorize, and time-track eligible projects, ensuring all the supporting documentation is in place, leading to larger refunds with less investment of time and resources.