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Filed raises $17M to automate the drudgery of tax prep | TechCrunch

May 21, 2025 - techcrunch.com
Filed, a new accounting software company, has raised $17.2 million to revolutionize the tax industry by automating routine tasks. Co-founded by CEO Leroy Kerry and CTO Atul Ramachandran, Filed aims to address the shortage of CPAs and the inefficiencies in tax return processing. The software uses AI to read documents, apply firm-specific tax strategies, and integrate with existing systems, flagging scenarios that require human input. This approach keeps humans in control while reducing tedious work. Filed differentiates itself from competitors by directly integrating with current software systems, avoiding the need for clients to overhaul their technology.

The funding round was led by Northzone, with participation from Day One Ventures and Neo. Kerry, who grew up in South London and worked his way up from a call center to high-growth startups, launched Filed in the U.S. after observing outdated practices in small tax offices. The company plans to use the new capital to expand its team and hire more tax engineers, with a long-term vision of becoming the foundational AI infrastructure for the tax industry. Kerry believes the industry is ready for an AI transformation, and Filed is poised to lead the charge.

Key takeaways:

  • Filed, a new accounting software company, raised $17.2 million to automate tax return processes using AI.
  • The software aims to address the shortage of CPAs and reduce time spent on low-value tasks by automating document reading and data entry.
  • Filed's AI is designed specifically for tax workflows and integrates directly with existing software systems, differentiating it from competitors.
  • The company plans to use the funding to expand its team and develop AI infrastructure for the entire tax industry.
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