Fieldguide
Overview
Fieldguide is a cutting-edge firm providing cloud-based automation and collaboration software specifically tailored for audit and advisory firms. Founded in 2020 by Jin Chang and Chris Szymansky, Fieldguide's AI platform simplifies the engagement lifecycle for audit processes, offering superior efficiency and enhancing client satisfaction. Based in San Francisco, California, the company has successfully raised approximately $47.1 million through various funding rounds, with Bessemer Venture Partners among its key investors.
Recent Developments
- September 2024: Fieldguide maintained its momentum by being acknowledged on the "Best New Products" list by AccountingToday, highlighting innovations in AI technology that further democratize and streamline CPA practices.
- March 2024: The company raised $30 million in a Series B funding round led by Bessemer Venture Partners. These funds are allocated for enhancing AI capabilities, expanding international market reach, and bolstering talent acquisition.
- 2023: Fieldguide's AI platform was heralded for addressing the CPA industry's talent shortage, significantly reducing manual task burdens, and thereby improving both productivity and quality of audits and advisory services.
- February 2023: The platform launched Fieldguide AI, a pioneering AI solution customized for audit and advisory firms, that optimizes firm methodologies and reduces engagement time by up to 50%.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2020 |
| Headquarters | San Francisco, CA |
| Founders | Jin Chang, Chris Szymansky |
| Revenue | - |
| Profits | - |
| Key Investors | Bessemer Venture Partners, 8VC, Y Combinator, Floodgate |
| Industry | Business/Productivity Software |
| Number of Employees | 75 |
Early History
Fieldguide was founded in 2020 by Jin Chang and Chris Szymansky, motivated by their experiences within the audit and advisory field and a shared vision to modernize it with state-of-the-art technology. Within just a few months of inception, the company secured an initial funding round that kick-started its growth. By integrating AI into their platform, Fieldguide quickly captured attention from high-profile CPA and consulting firms, who saw in it a transformative tool capable of enhancing engagement management and boosting client satisfaction.
Company Profile and Achievements
Fieldguide's business model revolves around providing a comprehensive AI platform for audit and advisory firms, addressing inefficiencies and enhancing service delivery. The platform empowers firms by automating traditional audit processes, reducing time and error margins significantly:
- 2021 to 2023: Fieldguide received multiple accolades for technological innovation from CPA Practice Advisor and AccountingToday.
- Client Success: Firms using Fieldguide reported up to a 50% reduction in time spent on engagements.
- Strategic Partnerships: The platform is trusted by notable firms like Wipfli and Mazars, underscoring its utility and impact in the CPA sector.
- Continuous Development: Features such as AI Document Copilot highlight Fieldguide's commitment to user-friendly solutions that enhance practitioner-client interactions.
Current Operations and Market Position
Fieldguide currently leads as an AI-driven solution in the audit and advisory sector, focusing its efforts on expanding functionality and market reach. With ongoing enhancements in its AI platform, it aims to tackle talent shortages in the CPA industry by offering solutions that streamline audit processes and facilitate higher-value strategic work. Its competitive edge stems from its ability to reduce engagement hours, thus allowing firms to allocate resources toward more strategic initiatives, thereby increasing their market share.
Conclusion
Fieldguide is significantly reshaping the landscape of audit and advisory services through its innovative AI solutions. By continually enhancing its platform and expanding its reach, Fieldguide stands as a pivotal player in addressing critical industry challenges, such as talent shortages and productivity improvements. As it continues to innovate, Fieldguide is positioned to further solidify its role as a leader in driving efficiency and satisfaction within the audit and advisory industry.