L7 Informatics Raises $13M in Series B Financing
09 Mar, 2021
– Boast.ai, a company developing software that automates the process of claiming R&D tax credits, today announced that it secured a $100 million credit facility from Brevet Capital.
– The company plans to use the loan to further develop its platform as it looks to expand its startup customer base.
– Each year, the federal governments of the U.S. and Canada provide more than $15 billion in innovation incentives to private companies.
– In fact, it’s estimated that nearly a third of U.S. patents rely directly on U.S. government-funded research.
– But filling out the applications to receive this funding is often a cumbersome process — and yet another barrier for companies squeezed by the pandemic as venture capitalists pull back on early-stage investments.