What Extractly.ai does

Extractly.ai operates as an AI-powered sub-brand of Caseware, focused on substantive testing and document-processing automation within audit and assurance engagements. The underlying Caseware platform is an enterprise SaaS audit and assurance workflow system serving more than 23,000 organizations and 475,000 users across 130 countries, with 35+ years of domain specialization in accounting and financial reporting. The core product is Caseware Verity, a workflow-native AI platform composed of agentic suites that span the full engagement lifecycle — Prepare, Plan, Evaluate, and Report — with Extractly positioned as a specific AI capability within that suite for substantive testing.

The technology stack centers on AI embedded directly into engagement workflows (rather than offered as a standalone bolt-on), with an API-first, MCP-ready architecture that supports third-party integration and ecosystem extension. Distribution is sales-led via direct field sales and a global network of authorized resellers, with enterprise SaaS subscription pricing tied to per-seat entitlements. The customer base is concentrated in professional services — accounting firms, advisory practices, and government audit functions — with named enterprise customers including EisnerAmper, Citrin Cooperman, Withum Smith + Brown, Wipfli, KNAV, and GRF. Monetization is anchored in long-cycle enterprise contracts with high switching costs tied to firm-specific audit methodologies and reviewer workflows.

Commercially, the company is executing a deliberate repositioning around AI-native audit, signaled by a CEO-led thought leadership campaign and a multi-phase Verity product roadmap that references additional agentic capabilities "coming soon." The structural question for investors is the extent to which Extractly.ai is monetized as a discrete SKU versus bundled into Verity entitlements, since firmographic signals (founded 2021, 1-10 employees, Australia-domiciled) indicate it operates as a product feature within Caseware rather than as a standalone P&L entity.

Name

Extractly.ai

Website

https://extractly.ai

Company type

Private

Founded year

2021

Headcount range

1–10 employees

Short description

Extractly.ai is an AI-powered audit and assurance sub-brand of Caseware, offering workflow-native AI agents — including substantive testing automation — for accounting firms and government audit functions across 130 countries.

Ownership category

akta.pro rank

Product category

Audit and Accounting Software

NAICS

Software Publishers (5132)

SIC

Services-Computer Processing & Data Preparation (7374)

akta.pro primary industry

Regulatory Readiness & Audit Automation (e.g., EU AI Act, NIST AI RMF, ISO/IEC 42001) (HDAAAMAE)

akta.pro secondary industries

Responsible AI, AI Governance & Compliance Services (BPAEAHAJ), AI Observability, Monitoring & Evaluation Platforms (Drift, Quality, Safety) (HDAEANAF)

Keywords

• AI document extraction
• Audit data processing
• Accounting automation software
• Substantive testing AI
• Financial document OCR

Headquarters

HQ city

Wamberal North

HQ country

Australia

HQ region

Oceania

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. SaaS/Software Platform Subscription: Caseware operates as a cloud-based AI platform with embedded agents in audit workflows. The subscription model provides access to the platform, Verity AI, and various agent suites. Pricing likely varies by firm size, user count, and modules selected.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Extractly.ai is an AI-powered document data extraction product that reads, interprets, and structures data from financial documents such as invoices, receipts, contracts, and bank statements. It uses generative AI and large language models to automate substantive testing and document processing for audit and accounting professionals. The product is positioned as part of the caseware.ai platform, delivering safe, secure enterprise AI for accounting and audit workflows.

Product overview

Caseware is an enterprise software company offering a unified AI-powered platform for audit and financial reporting. The core product is Caseware Verity, which operates within the Caseware AI Platform and provides purpose-built agentic suites across four phases: Prepare (client acceptance and data ingestion), Plan (risk assessment), Evaluate (testing and workpaper generation), and Report (disclosure and deliverable assembly). Additional products include Disclosure Checklist Agent and Caseware Extractly for specialized audit workflows. The platform is API-first, MCP-ready, and designed as a governed system of record for modern engagements.

Differentiator

Problem solved

Functional benefit

Brands

• Extractly: AI-powered Substantive Testing feature within Caseware's platform that enables audit teams to perform automated transaction testing and data extraction work.

Products and services

• Extractly.ai Extractly.ai is an AI-powered document data extraction tool that reads, interprets, and structures data from financial documents such as invoices, receipts, contracts, and bank statements. It is designed for audit and accounting professionals who need to automate data ingestion for substantive testing and audit engagements.

Quantifiable outcome

• 107-167 hours of total AI time savings per engagement without losing quality
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature9 records

Partnerships

Three partnerships are on record, tiered core.

• DistributorscoreChannel Partner/ Reseller/ DistributorGlobal network of authorized distributors enabling localized sales, implementation, and support across 130 countries. Distributors provide regional market access and customer relationships.
• Strategic PartnerscoreStrategic or Co-development PartnerStrategic partnerships for platform development, integration, and go-to-market collaboration. Referenced as part of the Caseware Partner Ecosystem.
• Partner EcosystemcoreTechnology or IntegrationAPI-first ecosystem enabling seamless connections to the tools firms already use. MCP-ready architecture for agent-to-agent interoperability with third-party systems.

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• MindBridge AI: AI-powered audit analytics platform that surfaces risk in financial transactions and journal entries. Directly comparable to Caseware/Extractly as an AI-native platform built specifically for audit professionals, with overlapping buyer personas (audit firms and corporate internal audit teams).
• Workiva: Connected reporting and compliance platform for financial reporting, ESG, and audit-ready disclosures. Comparable because it serves the same audit-and-financial-reporting workflow, with overlapping XBRL, disclosure, and assurance use cases.
• AuditBoard: Cloud-based audit, risk, and compliance management platform widely adopted by mid-market and enterprise audit teams. Comparable as an end-to-end audit workflow platform with overlapping customer base in accounting/audit firms and corporate internal audit functions.
• SurePrep: AI-powered tax document automation software for accounting firms. Highly comparable to Extractly as an AI document-processing sub-product within the broader tax/audit workflow, with overlapping CPA-firm buyer personas.
• Intapp: Vertical SaaS platform purpose-built for professional services firms, including audit and accounting practices. Comparable because it embeds AI into firm workflows (engagement, time, compliance) for the same accounting-firm buyer personas.
• Vic.ai: AI platform for autonomous invoice processing and accounts payable workflows. Comparable as a vertical AI application targeting accounting and finance teams, with overlapping AI-in-finance document-processing capabilities.

Broad incumbents

• Thomson Reuters: Global content and technology company with major tax & accounting, audit, and legal software franchises. Comparable as a broad incumbent serving accounting/audit professionals with embedded AI features across its product suite.
• Diligent: Governance, risk, and compliance (GRC) platform used by boards, auditors, and compliance teams. Comparable as an enterprise platform touching internal audit, controls testing, and risk management — adjacent to Caseware's audit and assurance workflows.
• Wolters Kluwer: Global information services company whose CCH and TeamMate brands dominate tax, accounting, and audit software. Comparable as a broad incumbent serving the same accounting/audit customer base, though with a much wider portfolio beyond audit workflow.

Others

• KPMG (KPMG Clara): Big Four firm's proprietary AI-powered audit platform used internally and increasingly marketed externally. Comparable because it represents an in-house, competing AI audit stack that addresses the same audit lifecycle stages as Caseware/Extractly.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/extractly-ai

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Extractly.ai