Audit Sight, an Atlanta, GA-based startup streamlining the complex auditing process, raised $2.5m in seed funding.
The round was led by Hyde Park Venture Partners with participation from Alumni Ventures Group and individual investors, including Johnson Cook, CEO of Greenlight; Aaron Rankin, co-founder of Sprout Social; and John Seybold and Ken Branson, co-founders of Guidewire Software. In conjunction with the funding, Ira Weiss, partner at Hyde Park Venture Partners, joined Audit Sight’s board.
Led by T.C. Whittaker, CEO, and Jonathan Womack, COO, Audit Sight uses APIs to access the client’s records, eliminating the process of asking for them and waiting for a recordkeeper to compile and send them. Once the client connects their accounts, the system digitally gathers the data needed for the audit tests. It then uses computer-assisted auditing techniques to automate the testing of the accounting records against third-party source documentation so auditors can focus on adding value to their clients instead of keying data into spreadsheets.
Since launching the company in August, Audit Sight has added Eric Kingery as its chief technology officer and Attila Domokos as its executive vice president of engineering. The company plans to continue growing its team in the near future.