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Tax Software Vendor Raises $8 Million

FlyFin, which targets freelance workers and the self-employed, has raised $8 million. The seed and pre-Series A round funds will be used to develop the company’s artificial-intelligence based tax preparation software.

.”FlyFin's 'Man + Machine' approach leverages the power of A.I. to eliminate 95% of the work that is then fortified with world-class CPA expertise, FlyFin founder and CEO Jaideep Singh said in a prepared statement.

The company’s SaaS platform uses A.I. to scan expense accounts and find tax deductions.  Users can utilize FlyFin’s CPAs, who revie returns and provide help, or can export data in an IRS-ready format.

Accel Partners led the funding round.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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