Caseware acquires Aussie financial document processing start-up Extractly.ai
Caseware, a Canada-based tech provider offering financial reporting, audit, and data analytics solutions, has made its ninth acquisition since Hg Capital acquired majority ownership in late 2020 with the purchase of Extractly.ai, an Aussie tech company providing document processing solutions. The financial terms of the deal have not been disclosed.

Caseware acquires Extractly.ai
The deal will see Extractly.ai CEO Alastair Raphael and the entire Australia-based team join Caseware.
Founded in 2021, Extractly.ai offers two solutions for processing accounting and financial documents – Extractly+ and Validate – which will be integrated into Caseware’s product suite.
Extractly+ is a PDF-to-Excel data extraction solution built to streamline workflows and outputs for business teams with document matching and collaborative data sharing capabilities.
Validate is a cloud-based tool designed to automate the process of reviewing financial statements for accountants specifically, ensuring accuracy and validation with AI algorithms.
Audit and accounting giant BDO in Australia is one of the most prominent users of Extractly.ai’s tech, having first partnered with the start-up three years ago.
Extractly.ai also offers another data exaction tool called Statemently, which processes data from PDF bank statements using AI.
Danielle Supkis Cheek, SVP AI, Analytics and Assurance at Caseware, says Extractly.ai’s tech “helps accounting and finance professionals increase efficiency and save valuable time by automating tedious tasks”.
The deal comes only weeks after Caseware snapped up LeaseJava, a Software-as-a-Service (SaaS) accounting solution for business lease management.
Caseware appointed David Marquis as its new CEO on 13 January this year. Marquis joins the company following a five-year stint at Intuit.