Fieldguide, a prominent AI platform catering to advisory and audit services, has recently announced securing a significant $30 million Series B funding round. The funding was led by Bessemer Venture Partners, renowned for its investments in vertical SaaS and AI companies like EvenUp, Procore, ServiceTitan, and Shopify. Fieldguide, headquartered in San Francisco, aims to tackle the talent shortage prevalent in the CPA and advisory industry through AI solutions that enhance efficiency and quality while prioritizing security and privacy.
Jin Chang, CEO and Co-Founder of Fieldguide, expressed excitement about the partnership with Bessemer Venture Partners, emphasizing the company’s commitment to revolutionizing the advisory and audit industry. With this investment, Fieldguide intends to expand its range of AI cloud solutions, catering to firms of all sizes and addressing the growing talent gap in the industry.
Fieldguide has witnessed rapid growth since its Series A round in March 2022, becoming the preferred AI platform for advisory and audit engagements among nearly forty of the Top 100 CPA and consulting firms. Notable firms such as Wipfli, Mazars, and Aprio have reported significant time savings on engagements, enabling them to enhance business growth and address talent shortages effectively.
According to Sameer Dholakia, Partner at Bessemer Venture Partners, Fieldguide’s AI platform addresses critical pain points in the industry by automating audit processes and enhancing productivity. Dholakia emphasized the transformative potential of Fieldguide’s vertical SaaS AI platform in reshaping workflows and driving productivity gains.
The Series B funding round saw participation from other investors, including 8VC and leading AI and SaaS company CEOs, reflecting confidence in Fieldguide’s market leadership and potential for growth.
Fieldguide was founded in 2020 by Jin Chang, a former EY practitioner, who experienced firsthand the challenges of managing complex advisory and audit engagements. Combining forces with co-founder and CTO Chris Szymansky, Fieldguide was established to streamline the profession and eliminate tedious manual work, allowing practitioners to focus on client advisory.
Fieldguide’s AI platform offers secure and private solutions designed to reduce the workload associated with drafting and analyzing tests, requests, and document reviews. This enables staff members to focus on higher-value tasks, thereby enhancing productivity and efficiency across engagements.
The Series B funding will be utilized for product development, market expansion, and talent acquisition. Fieldguide aims to enhance its AI capabilities, expand market reach, and attract top-tier talent across engineering, data science, and customer success to drive innovation and ensure exceptional service delivery.
Fieldguide has garnered recognition from industry publications like AccountingToday and CPA Practice Advisor, receiving awards for its innovative technology and impactful contributions to the accounting profession. The company’s CEO, Jin Chang, has also been recognized as one of CPA Practice Advisor’s 20 Under 40 Most Influential People in Accounting.
Backed by top investment firms, including Bessemer Venture Partners, 8VC, Y Combinator, and Floodgate, Fieldguide is poised to continue its trajectory of growth and innovation in the advisory and audit industry.
