TechCrunch Startup News Field raises $17M to automate the drudgery of tax prep
May 23, 2025
A new accounting software company just raised $17.2 million to revolutionize tax preparation. Field aims to tackle the industry's current crisis by automating tedious tasks. Co-founder Leroy Kerry discusses how AI could enhance efficiency while ensuring human oversight is still in place. The potential for innovation in tax prep is exciting, with a focus on not just speed, but also quality and accuracy.
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Tax Industry Labor Crisis
- The tax industry is facing a labor shortage and efficiency crisis due to retiring CPAs and fewer new entrants.
- Professionals spend half their time on automatable, low-value tasks, creating demand for AI solutions like Field.
AI Automates Tax Preparation
- Field uses AI to complete the entire tax return lifecycle by reading documents and applying firm-specific strategies.
- The AI automates input into existing software and flags complex cases for human review to maintain control.
Field's Unique AI Integration
- Field differs from competitors by integrating AI directly into existing tax software workflows.
- This avoids forcing clients to overhaul their technology and is tailored specifically for tax workflows.