About
Instead is an AI tax platform that automates tax preparation for accountants. Launched June 2023. First new platform to receive IRS e-file approval in decades (1040, 1041, 1120, 1120S, 1065). Strategic investment from IRIS Software Group (May 2025). Aims to automate 90%+ of tax prep with agentic AI. Plans from $16/month. Called 'first true disruption in tax since 1993.'
Key Facts
- [1]Funding: Total funding: $5M. Last round: May 2025. Stage: Seed.
- [2]Employees: Employee count: 11-50.
- [3]Website: Official website: instead.com.
- [4]AI Technology: Core AI/ML technologies: Predictive ML.
- [5]Region: Region: Americas (United States).
Founder
Nick Mazing
Co-founder & CEO
AI Technology
Predictive ML
Traditional ML algorithms for classification, regression, and scoring models
Classification
Market Segments
Tech Stack Layers
Details
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Frequently Asked Questions
What is Instead?
Instead is an AI tax platform that automates tax preparation for accountants. Launched June 2023. First new platform to receive IRS e-file approval in decades (1040, 1041, 1120, 1120S, 1065). Strategic investment from IRIS Software Group (May 2025). Aims to automate 90%+ of tax prep with agentic AI. Plans from $16/month. Called 'first true disruption in tax since 1993.'. Instead is classified in the Enterprise Finance segment at the Applications layer of the financial AI stack.
Who founded Instead?
Instead was founded by Nick Mazing (Co-founder & CEO).
How much funding has Instead raised?
Instead has raised $5M in total funding, placing the company at the Seed stage. The most recent round closed in May 2025. Among 79 funded Enterprise Finance companies, Instead ranks #76 by total capital raised. (Source: AIFI Map directory.)
What AI technology does Instead use?
Instead primarily leverages Predictive ML technology. Traditional ML algorithms for classification, regression, and scoring models. Within the Enterprise Finance segment, 58 companies use this technology.
What market segment does Instead operate in?
Instead operates in the Enterprise Finance market segment. AI enterprise finance companies are automating and enhancing the financial operations of businesses — from accounting and treasury management to financial planning, analysis, and corporate finance.
Who are Instead's competitors?
Companies similar to Instead in the Enterprise Finance space include Unit21 ($92M raised), Kaaj ($4M raised), Lendbuzz ($310M raised), Ramp ($2.3B raised), Brex ($1.5B raised). These companies operate in related areas of financial AI: Unit21 focuses on ai-powered fraud and aml platform. Kaaj focuses on agentic ai for small-business lending automation. Lendbuzz focuses on ai auto financing for underserved populations. (Based on AIFI Map classification data.)
What products does Instead offer?
Instead builds applications-layer solutions for the financial services industry. The company's core offering: AI-powered tax platform for accountants, automating tax preparation. The platform is powered by Predictive ML technology.