# AuditFile

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/auditfile

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.auditfile.com
- Latest round: Seed (Feb 1, 2013)
- Investors on record: 3

## About

AuditFile is a cloud-based platform that enhances the efficiency of auditors and accountants by streamlining audit, review, compilation, and tax processes through integrated tools and secure data management.Founded in 2011 in San Francisco, US, AuditFile offers a secure cloud-based platform for auditors and accountants. The company has raised a total of USD 3.00 mn, with its latest funding round occurring in August 2014, led by Banneker Partners and other investors including 500 Global, Boost VC, Green Visor Capital, and Rothenberg Ventures. The founders, Kevin Bong and Steven Bong, have a history of entrepreneurship, contributing to the development of innovative solutions in the accounting sector.AuditFile® provides a secure, cloud-based platform designed to enhance the efficiency of auditors and accountants by streamlining the processes involved in audits, reviews, compilations, and tax services. Its core offerings include integrated tools for methodology application, risk assessment, trial balance management, workpapers, and reporting, all accessible within a single platform. The software is built to address various challenges faced by CPA firms, such as adhering to professional standards and ensuring data security. AuditFile primarily serves small to medium-sized accounting firms, helping them comply with risk-based auditing requirements through features like the Advantage Audit™ program, which is tailored for specific industries. The company’s products are marketed and utilized across North America and Europe, with significant adoption among firms seeking to modernize their audit practices through cloud technology.AuditFile operates on a subscription-based revenue model, where clients typically engage with the platform through various pricing plans that cater to different service needs. The structure of transactions often involves B2B interactions, where accounting firms purchase subscriptions to gain access to AuditFile’s suite of auditing tools. Customers can select from multiple service tiers based on their specific requirements for managing audits and compilations effectively. As a flagship offering, AuditFile® provides comprehensive features that enhance audit processes, including real-time dashboards and file management capabilities. The subscription costs for these services are structured to facilitate both small firms and larger accounting practices, reinforcing the platform's adaptability to different firm sizes and operational demands.In August 2014, AuditFile raised USD 3.00 mn to support its growth initiatives. The company is focused on enhancing its platform with upcoming product features designed to improve user experience in audit management. Additionally, AuditFile plans to expand its services into new markets, specifically targeting firms in Europe and Asia by 2025. The recent funding will be utilized to accelerate product development and market entry strategies in these regions.

## Funding rounds

- Seed, Feb 1, 2013 — The Iron Yard Digital Healthcare Accelerator, Green Visor Capital, Queensbridge Venture Partners

## Investors

- The Iron Yard Digital Healthcare Accelerator — Seed
- Green Visor Capital (https://capitalatlas.ai/funds/green-visor-capital) — Seed
- Queensbridge Venture Partners (https://capitalatlas.ai/funds/queensbridge-venture-partners) — Seed