Summary:

1. IRIS Software Group makes an undisclosed investment in Instead, an AI-powered tax platform provider based in Miami, FL.
2. Instead’s platform automates tax preparation for accountants, allowing them to focus on strategic advisory tasks by streamlining routine processes and providing valuable insights.
3. The partnership between IRIS and Instead aims to drive innovation in the tax and accounting industry by combining their expertise and capabilities in AI-driven solutions.

Instead, a Miami, FL-based AI-powered tax platform provider, has secured an investment from IRIS Software Group, although the exact amount has not been disclosed.

This strategic investment will enable Instead to accelerate its product development efforts and expand its sales and marketing activities. Instead’s AI-powered platform revolutionizes tax preparation for accountants, allowing them to automate tasks and shift their focus from compliance to strategic advisory services.

By leveraging agentic and generative AI technologies, Instead’s platform aims to automate over 90% of the tax preparation process, providing accountants with the tools to analyze tax returns, implement savings strategies, and file federal and state tax returns efficiently. The company has received IRS approval to e-file various individual and business tax forms and is rapidly expanding its reach across the United States.

As part of the investment agreement, IRIS and Instead will collaborate closely to drive innovation, share insights, and apply AI-driven solutions to address real customer challenges in the tax and accounting sector. This partnership seeks to challenge traditional practices, accelerate product development, and drive progress in the industry.

Overall, the investment from IRIS Software Group marks a significant milestone for Instead, positioning the company for further growth and innovation in the evolving landscape of tax and accounting technology.

Published by FinSMEs on 22/05/2025