Accrual

Accrual is an AI-native accounting platform designed for accounting firms, unifying tax preparation and review into a single, automated system. Founded in 2024 by CEO Cosmin Nicolaescu and Siddharth Singhai, the San Francisco-based company officially launched in February 2026 with $75 million in funding. The funding round was led by General Catalyst, with participation from Pruven Capital, Edward Jones Ventures, and other industry executives. The founders, who are former engineering and technology leaders from companies like Stripe and Brex, created Accrual to address the fragmented and manual workflows that have long characterized the accounting industry.

The company's core offering is a platform that uses AI agents to automate the tax preparation and review process. These agents can read and organize various client inputs—such as K-1s, 1099s, spreadsheets, and emails—identify missing information, generate follow-up questions, and produce draft returns ready for professional review. The system is designed to structure data upon entry, which streamlines the entire workflow from preparation to client guidance. This approach significantly reduces manual work, with early results showing preparation time dropping by over 85% and review time by up to 60%. Accrual's platform integrates with existing tax engines, allowing firms to continue using their trusted systems for prior-year data, carry-forwards, and final filing.

Accrual targets accounting firms as its primary client base, aiming to help them scale their expertise and redirect their focus from low-value tasks to higher-value advisory services. The business operates on a remote-first model, with its team distributed across the U.S. Initially, the platform is focused on individual tax returns. The company has already worked with prominent firms like H&R Block, Armanino, and Creative Planning. Accrual plans to expand its platform's capabilities beyond individual returns in the future.

Keywords: AI accounting, tax automation, accounting workflow, financial data extraction, tax preparation software, accounting AI agents, professional accounting services, tax compliance, audit trail, financial reporting automation, CPA tools, tax technology, intelligent accounting, accounting infrastructure, FinTech, professional services automation, data validation, automated tax review, General Catalyst, Cosmin Nicolaescu, Siddharth Singhai