Accrual has emerged from stealth with $75 million in funding to deliver an AI-native platform that unifies tax preparation and review workflows for accounting firms. The round was led by General Catalyst, with participation from Pruven Capital, Edward Jones Ventures, and a group of industry executives and founders. Designed for leading firms, Accrual automates manual tasks while preserving professional accuracy, controls, auditability, and judgment—enabling teams to focus on high-value advisory work.
Accounting firms face growing pressure to deliver faster results amid rising data volumes, regulatory complexity, and client expectations—yet most tools remain fragmented and manual. Accrual addresses this by creating a single, intelligent system that automates preparation while keeping professionals firmly in control of review and final judgment.
The platform ingests diverse client inputs, structures data automatically, identifies missing information, asks precise follow-up questions, and generates high-quality draft returns ready for manager-level review. By unifying preparation and review, Accrual eliminates repeated rework and compounds firm expertise over time.
Cosmin Nicolaescu, CEO and Co-Founder of Accrual, stated: “Accounting is a deeply interconnected system, yet most software treats it as a collection of disparate tasks. We are building core infrastructure from the ground up to unify these workflows into a single system that amplifies judgment and compounds a firm’s expertise over time.”
John Karls, National Tax Practice Leader, Private Client Advisors at Armanino, shared: “Returns coming out of Accrual are already at manager-review quality. What used to take hours of staff preparation now processes in minutes. Just as important, Accrual is catching issues that could have led to amended returns and handling documents our existing tools can’t. That shift frees our teams to focus more on higher-value planning and advisory work.”
Firms using Accrual report thousands of hours saved per tax season, with significant reductions in preparation (>85%) and review time (up to 60%). The platform improves consistency, reduces errors, and scales capacity without headcount increases—delivering measurable ROI for high-volume, complex returns.
Marc Bhargava, Managing Director at General Catalyst, commented: “Accounting is one of the largest and most critical professional services markets in the world, yet its core workflows have remained largely unchanged for decades. Cos and Sidd have spent their careers building software for complex, highly regulated environments and we believe are the right team to rebuild these systems using AI without compromising the trust the profession depends on.”
Accrual is actively onboarding accounting firms across the U.S. and hiring engineers, product leaders, and accounting experts to expand the platform. The company plans to broaden capabilities beyond individual tax returns in future releases.
About Accrual
Accrual is an AI-native accounting platform built for leading accounting firms. The platform unifies tax preparation and review into a single system that automates manual work while preserving the accuracy, controls, and auditability firms require. Accrual is led by engineers and technology leaders who previously built financial infrastructure at companies including Stripe and Brex, and is backed by General Catalyst, Pruven Capital, Edward Jones Ventures, and a group of industry executives and founders. The company works closely with accounting firm leaders across the U.S. to build core infrastructure for the next generation of accounting workflows.
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