Fueled by last year’s private equity investment from Charlesbank Capital Partners, Atlanta-based Aprio announced this week a five-year, $300 million commitment in artificial intelligence and automation, with the goal of building “a scalable, AI-enabled firm that delivers measurable value for clients and team members alike,” the top 30 accounting firm said.
In addition, Aprio said Wednesday that it had acquired TimeCredit, a 2024 AICPA and CPA.com Startup Accelerator company located in Boston.
Financial terms of the deal weren’t disclosed. As part of the acquisition, three key members of the TimeCredit team—including CEO and co-founder Ndonga Sagnia—joined Aprio. Sagnia now serves as senior director of AI transformation, where she will play a pivotal role in advancing Aprio’s AI strategy and accelerating innovation across the firm.
- Related article: Aprio Gets Private Equity Infusion
Aprio’s $300 million investment will be deployed over five years, saying it’s “a major milestone in [our] commitment to build an AI-enabled firm that delivers smarter, faster, and more valuable services across audit, tax, legal, and advisory practices.” The AI strategy will be guided by the Aprio AI Council, a cross-functional leadership group responsible for aligning technology investments with business strategy and client needs.
“As Aprio deepens its capabilities and expands its AI ecosystem, [we remain] focused on staying ahead of market demands—developing and investing in intelligent solutions that scale with clients and empower professionals to do their most impactful work,” the firm says in a July 23 media release.
Aprio CEO Richard Kopelman said the investment is about more than just adopting new tools; it’s about fundamentally reimagining how the firm and its professionals work.
“By adding new platforms to our growing AI ecosystem, we are doubling down on our belief that technology, when paired with the best people, can reshape the future of professional services,” he added.
Aprio’s AI strategy includes the integration of TimeCredit’s platform, as well as advanced AI tools that assist with drafting documents and analyzing legal content, as well as automating research, summarizing complex information, and streamlining workflows. The accounting firm says these technologies are designed to “enhance both the client and team member experience by improving accuracy, accelerating turnaround times, and freeing professionals to focus on higher-value and client engagement.”
“By integrating intelligent automation into our workflows, we are building a more agile, responsive organization that delivers faster insights for clients and a more fulfilling experience for our team members,” said Brent McDaniel, chief digital officer at Aprio. “We believe our AI ecosystem can truly scale with our goals, helping us stay ahead of client needs while empowering our people to do their best, most impactful work.”
Founded in 2023, TimeCredit is an AI assistant built by accountants and is known for its AI-enabled automation platform that enhances accuracy and speed in accounting workflows.
Aprio says the acquisition significantly expands its capabilities in intelligent automation, particularly in audit, tax, reporting, and advisory services.
“At TimeCredit, we have always believed that technology will be the key driver for growth in the accounting profession,” Sagnia said. “With Aprio, we are combining truly advanced technology with strong domain expertise to create smarter solutions for clients and professionals alike. I’m excited to join a firm that is on the leading edge of the profession.”
Wednesday’s announcement comes on the heels of another Aprio acquisition, Boston-area boutique CPA firm Sandler & Co., which will expand Aprio’s Financial Services practice.
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