Audit Sight takes on new capital to eliminate all of the back and forth between auditors, companies –
Summary
Audit Sight takes on new capital to eliminate all of the back and forth between auditors, companies Financial statement audits are an essential part of doing business, but often are complex and can require documentation gathering, most times requiring email correspondence back and forth between the auditor and the company for files and information to complete the task. Even back then, I was thinking there had to be a better way to do this.” He ended up building a company inside of PwC with co-founder Jonathan Womack around cloud systems for audit work and ultimately they left PwC last year to start another company, this time Atlanta-based Audit Sight, that eliminates all of the back and forth by using APIs to access client records and can also look at 100% of the transactions instead of a sample. To continue developing its software, the company announced Friday $2.5 million in seed funding, led by Hyde Park Venture Partners, with participation from Alumni Ventures Group and individual investors, including Johnson Cook, CEO of Greenlight; Aaron Rankin, co-founder of Sprout Social; and John Seybold and Ken Branson, co-founders of Guidewire Software. Whittaker notes that the audit services industry is projected to be a $43 billion market in the United States this year, so the new funding will enable the company to jump on additional hiring to meet that demand. The company intends to build out several SaaS applications and is poised to roll out its first two modules for revenue and accounts receivables by the end of the year.