News Summary

Filed, a new accounting software company, has raised $17.2 million in a funding round led by Northzone, with participation from Day One Ventures and Neo. The company aims to automate the tax preparation process through AI, addressing the crisis in the tax industry where many CPAs are retiring while fewer students are entering the field. Filed’s AI reads documents, applies firm-specific tax strategies, and integrates with existing software systems, flagging scenarios requiring human input. Co-founded by Leroy Kerry and Atul Ramachandran, the startup plans to expand its team and develop foundational AI infrastructure for the tax industry, enhancing client collaboration, document management, and audit preparation.