Automation and AI company Aprio secure $300 million funding, with TimeCredit AI acquisition as part of the deal.
Aprio, a leading U.S. business advisory and accounting firm, has announced a five-year, $300 million investment in AI and automation. The investment aims to provide value to clients and staff by improving accuracy, reducing turnaround times, and enabling higher-value work.
Richard Kopelman, CEO of Aprio, emphasizes that the investment is not just about adopting new tools but fundamentally reimagining how they work. "We are committed to developing intelligent solutions that meet market demands, grow with clients, and empower professionals," Kopelman said.
To achieve this goal, Aprio has acquired TimeCredit, a 2024 AICPA and CPA.com Startup Accelerator company, known for its AI-powered automation platform. TimeCredit's platform enhances accuracy and speeds up accounting workflows, especially in audit, tax, reporting, and advisory services.
Ndonga Sagnia, former CEO of TimeCredit, has expressed excitement about combining advanced technology with strong domain expertise at Aprio. Sagnia has joined Aprio as Senior Director of AI Transformation to help advance the firm's AI strategy and accelerate innovation. This acquisition represents the first prong of Aprio’s three-pronged approach: acquiring proven technologies and talent to rapidly build out its AI ecosystem alongside deploying external platforms and developing in-house tools.
Brent McDaniel, Chief Digital Officer of Aprio, believes that integrating intelligent automation into their workflows will build a more agile and responsive organization. "McDaniel also believes that Aprio's AI ecosystem can scale with our goals, helping us stay ahead of client needs while empowering our people," McDaniel said.
Aprio's AI strategy includes integrating TimeCredit's platform and advanced tools for drafting, legal analysis, automation, and workflow streamlining. The investment will be used to develop a scalable, AI-driven firm offering services across audit, tax, legal, and advisory practices.
The executives from Aprio and TimeCredit express confidence in the potential of their combined efforts to create smarter solutions for clients and professionals. With three key members of the TimeCredit team, including Sagnia, joining Aprio, the firm is well-positioned to reimagine its operations with AI and automation. In summary, Aprio is using the $300 million investment to fundamentally reimagine its operations with AI and automation, and the TimeCredit acquisition is a strategic milestone that significantly boosts its AI-driven automation capabilities while embedding specialized talent to drive ongoing transformation.
Business and finance are at the heart of Aprio's ambitious five-year plan, which involves integrating artificial-intelligence (AI) and automation technologies in their operations. By acquiring TimeCredit, known for its AI-powered platform, Aprio aims to speed up accounting workflows, provide more accurate results, and enable higher-value work for their clients and staff. This strategic investment also signals a commitment to developing intelligent solutions that adapt to market demands, grow with clients, and empower professionals in the realm of business technology.
