KPMG buys minority stake in tax incentive platform Incentify

KPMG US has acquired a minority stake in Incentify, a Los Angeles-based provider of AI-powered tax credits and incentives (C&I) software.

Founded in 2019, Incentify provides a software platform that helps accountancies and their clients optimize C&I discovery and management with centralized reporting and customizable workflows.

Incentify’s US incentives warehouse, AI discovery and qualification engine, and client collaboration tools are already part of KPMG’s Incentive Credit Opportunity Navigator (ICON) solution – which also features KPMG’s global incentives dataset.

“KPMG’s dataset and network of more than 1,200 incentive professionals, paired with our discovery and qualification engine, give clients a single, intelligent view of what’s available to them,” said Laurence Sotsky, CEO of Incentify. “We are very excited to keep building together while pairing our technology with KPMG’s experience.”

The minority investment deepens the relationship established under the ICON collaboration, which is already utilized by KPMG’s tax practice. KPMG Ventures has also invested in companies such as Fieldguide, Ema, Wokelo, and Rhino.AI.

“Incentives now sit at the center of many critical business decisions – where to deploy capital, how to build a workforce, which markets to enter – and they represent real money on the table for the companies that can identify which programs to pursue and the best way to capture them,” said Richard Marcos, global credits, grants, and incentives leader at KPMG US.

ICON uses AI to scan, categorize, and assess complex and shifting C&I programs across federal, state, local, and international jurisdictions. The tool cuts down timelines for such work from weeks to days.

ICON provides clients with a personalized view of the credits and incentives relevant to them; connects KPMG knowledge and insights with client data; and features established security, confidentiality, and governance frameworks.

It is part of KPMG Digital Gateway, the firm’s global, cloud-based delivery platform offering the full suite of KPMG tax and legal technologies.

“Leading tools like ICON do more when they are delivered through our platform,” Marcos added.” The tool lives where our people and clients already work, and is connected to KPMG’s knowledge, the client’s data, and AI.”