—Tyagi brings proven technology leadership and a passion for helping companies accelerate innovation through R&D tax credits and R&D intelligence
TORONTO, CANADA, May 5, 2022—Boast, a fast-growing fintech company that helps businesses automate the cumbersome process of preparing and financing Research and Development (R&D) tax credit claims, is excited to welcome Alok Tyagi as incoming CEO for the next phase of the company’s growth.
New CEO Alok Tyagi brings deep product and technology experience from leadership at several prominent enterprise SaaS companies including DealerSocket, RealPage, Oracle, Peoplesoft, JD Edwards, and Sage. Alok has served in diverse roles including Chief Product & Technology Officer, General Manager, Partner, and Advisor. He helped scale companies from low revenue to hundreds of millions of dollars, with several successful exits. Alok was recently ranked #2 in the list of Top 25 Software Product Executives of 2021 by The Software Report.
Co-founders Alex Popa and Lloyed Lobo started Boast to disrupt the traditional model of R&D tax credits by using technology to accelerate and automate the process. Boast has experienced nearly 4x revenue and logo growth in the past 24 months—all while launching new products and maintaining its top reputation for claim compliance.
Alex and Lloyed said, “We believe that we have hit a moment in time where Boast will significantly benefit by us making room for a CEO with experience in scaling a business on the formula of a strong people and product agenda.”
Alex and Lloyed will remain close to the business as board members and will continue to run their non-profit community Traction, which has grown to more than 100,000 entrepreneurs and innovators and hosts over 100 events per year including webinars, podcasts, meetups, retreats, and conferences. They had started Traction to further Boast’s vision of enabling innovators to become successful.
“Boast has built a vibrant business that is highly successful,” said Alok Tyagi, Boast CEO. “Helping companies develop deep R&D intelligence and innovate more to grow fast is a passion of mine. Boast will provide our clients continuous innovation and strong value through using our products.”
In December 2020, Boast announced $30 million CAD in Series A funding and then a $100 million credit facility in early 2021 to provide companies with advanced funding against accrued R&D tax credits. The company expanded executive leadership in 2021 and scaled into new markets. Strong revenue growth and customer logo growth followed.
Each year governments give away over $20 billion through global R&D tax incentive programs to reward business investments in innovation, research, and development. According to Forrester, companies that are innovation leaders grow 260 percent faster than average companies.
Boast helps companies easily capture more R&D tax credits with its scalable, intelligent software. Governments give away $20 billion in R&D tax credits each year but applying is difficult and slow. Not with Boast. Thousands of innovative companies leverage Boast to get more money, faster, and with less risk. boast.ai
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