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Exactera is a Tarrytown, New York-based software company that provides AI-powered tax compliance solutions for transfer pricing, tax provision, and research and development tax credits. The company operates a subscription-based software-as-a-service model that automates regulatory documentation, reduces manual errors, and translates complex tax data into actionable business intelligence for corporate tax departments. Operating under the leadership of Chief Executive Officer Michael Hickman, the firm currently serves a global client base of more than 700 corporate customers and financial accounting firms. Formerly known as CrossBorder Solutions, the enterprise is backed by prominent venture capital firm Insight Partners and has raised $33 million in seed funding to support its operations. The organization recently won a Tax Compliance Services of the Year award and announced plans to release an integrated transfer pricing platform. Exactera was officially established in 2022.
Exactera has raised $73.0M across 2 funding rounds.
Exactera has raised $73.0M in total across 2 funding rounds.
Exactera is a technology company specializing in AI-driven tax compliance solutions for transfer pricing, tax provision calculations, and R&D tax credits.[1][2][4] It serves multinational corporations, tax professionals, and firms worldwide—over 700 customers including major brands—by automating complex tax processes to reduce errors, mitigate risks, and convert tax data into business intelligence.[1][2][4] The platform tackles regulatory compliance challenges in a fragmented global tax landscape, offering tools like automated localized transfer pricing reports, AI-powered compliance reviews in Microsoft Word, ASC 740 tax provision calculators, and royalty rate databases.[4][5] With $33 million in funding, 168 employees, and $35.3 million in revenue, Exactera shows strong growth momentum as a Challenger in the tax compliance software market alongside Intuit and Avalara.[1][2]
Founded in 2022 and headquartered in Tarrytown, New York, Exactera emerged to address inefficiencies in corporate tax compliance amid rising global regulations.[1][2] Key leaders include CEO Michael Hickman, CFO Mike DeGennaro, COO Mimi Song, CTO Brian Dougherty, Chief Revenue Officer Gerry Praysman, and Chief People Officer Stephanie Israel, driving its focus on AI-enhanced tax services.[3] A pivotal moment came with the acquisition of RoyaltyStat, integrating its premier royalty rate database to bolster transfer pricing capabilities while committing to product innovation for seamless customer continuity.[1] Early traction built on expert-led services scaled by technology, securing $33 million in funding and rapid expansion to hundreds of global clients.[2]
Exactera's edge lies in blending human expertise with AI for precise, scalable tax compliance in high-stakes areas:
Exactera rides the wave of AI adoption in fintech and RegTech, where tightening global tax scrutiny—fueled by OECD pillars and country-specific rules—demands automated compliance for multinationals.[1][5] Its timing aligns with post-pandemic regulatory shifts and rising R&D incentives, enabling firms to navigate complexity amid talent shortages in tax expertise.[4] Market forces like digitization of tax authorities and AI's cost efficiencies favor Exactera, positioning it as a Challenger against incumbents like Thomson Reuters by emphasizing localized, audit-ready outputs.[1] It influences the ecosystem by empowering tax teams to focus on strategy, indirectly boosting innovation in client industries through optimized cash flows from credits and provisions.[2][4]
Exactera is poised for accelerated growth through AI enhancements and potential expansions into adjacent compliance areas like indirect taxes or ESG reporting. Rising AI maturity and regulatory harmonization will amplify demand for its tools, while further acquisitions could solidify data moats. Its influence may evolve from compliance specialist to indispensable intelligence platform, transforming tax from cost center to strategic asset for global enterprises—much like how it already turns fragmented data into scalable business intelligence.[1][4]
Exactera has raised $73.0M across 2 funding rounds. Most recently, it raised $33.0M Series U in July 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2023 | $33M Series U | — | AAF Management Ltd., GE Ventures, Insight Partners, Kaiser Permanente Ventures | Announced |
| Sep 1, 2019 | $40M Series B | — | AAF Management Ltd., Insight Partners | Announced |
Exactera has raised $73.0M in total across 2 funding rounds.
Exactera's investors include AAF Management Ltd., GE Ventures, Insight Partners, Kaiser Permanente Ventures.
