Across the board we are seeing software speed up and automate clunky, legacy processes. This is happening in insurance, financial services, accounting and many other verticals. As complex processes are simplified by technology, small businesses are often the biggest benefactors, jumping at the opportunity to reduce cost and effort to operate their businesses.
Stamped AI is following this trend by focusing on improving year-end audits for SMBs. The year-end audit process is messy for most businesses, and leads to a mass of undifferentiated service providers that step in to help finance leaders year in and year out. Stamped AI is building a simpler and scalable solution that will alleviate these repeated headaches for SMBs.
As a participant in the Intuit Prosperity Accelerator: AI, which culminates in a Demo Day on March 24, 2022, we’ve had the opportunity to work closely with Simon Langlois, CEO/founder at Stamped AI and his team. The Accelerator has provided Stamped and Intuit an opportunity to collaborate together and explore different approaches to helping SMBs together.
Stamped AI, based in Quebec City, Quebec recently announced a $2M seed financing round led by Telegraph Hill Capital, with participation from Mucker Capital and I2BF Global Ventures. Highline Beta invested alongside these investors because we believe there’s immense opportunity to disrupt the accounting services industry, which to-date hasn’t leveraged technology quickly enough to provide true value-add to customers. The funds will be used to accelerate Stamped AI’s expansion into the U.S. market.
As the Intuit Prosperity Accelerator: AI comes to a close, we look forward to continuing our work with Simon and the Stamped AI team to drive corporate collaboration, and support all aspects of their growth.