Instead Secures Strategic Investment Round
Instead, a San Francisco, CA-based AI-powered tax platform helping accountants automate tax preparation, has secured a strategic investment.
The funding round was led by IRIS Software Group. Founded in 1978, IRIS is a global provider of cloud-based software, serving over 100,000 customers in 135 countries. By automating complex tasks and delivering actionable insights, IRIS helps organizations operate with confidence. The company is certified as a 2024 Great Place to Work® in the UK, Ireland, India, Romania, Canada, and the USA. IRIS serves businesses, HR departments, finance, education, and accountancy firms.
The company will use the funds to accelerate product development and expand its sales and marketing capabilities.
Instead is a company that provides an AI-driven tax solutions for businesses and tax professionals. Its platform is designed to automate the tax preparation process, including analyzing tax returns, implementing savings strategies, and facilitating the filing of both federal and state tax returns. Launched in June 2023, Instead uses AI to analyze tax returns, identify missed opportunities, and implement tax-saving strategies with supporting documentation. Powered by agentic and generative AI, the platform aims to automate over 90% of the tax preparation process.
Funding Details
Company: Instead, LLC
Raised: Undisclosed
Round: Strategic Investment
Funding Date: May 2025
Investor: IRIS Software Group
Company Website: https://www.instead.com/
Software Category: Tax & Accounting Software / AI Tax Automation