Valor Leads First Round in AI Technical Accounting Firm UpDraft
AI-Driven Workflow Automation Is Transforming Complex Financial Reporting
Co-founding CEO Tim LaBelle and CTO Fernando Cabral
Recognized by Accounting Today as a Top Accounting Tool of 2024, UpDraft is a virtual technical accounting expert and agentic work platform for corporate accounting teams and top accounting firms. Built on proprietary technology, UpDraft automates time-consuming workflows for experienced CPAs while reducing audit risk. After first being impressed with the courageous vision of co-founders Tim LaBelle and Fernando Cabral eighteen months ago, we’ve tracked their journey from prototype to enterprise-ready platform, and are proud to lead their first equity round in June 2025.
UpDraft Streamlines Technical Accounting
UpDraft analyzes complex transactions to ensure compliance with the FASB and other authoritative accounting regulations. UpDraft’s sector-agnostic, work-volume subscription model solves a critical pain point for both accounting firm partners and corporate controllers.
One of its critical differentiators is Tim’s leadership–he knows this business as a top practitioner. Prior to founding UpDraft, Tim spent 14 years working at top accounting firms including PwC and as a Managing Director at CFGI.
Tim’s deep expertise is complimented by his co-founder, Fernando Cabral. Fernando is a seasoned engineer who built and led engineering teams before tackling the big opportunities at UpDraft. Together, this dynamic duo secured annual contracts with keystone early customers including Embark, Stout and SolomonEdwards, and more.
A $15 B Industry in Flux: The Technical Accounting Market Landscape
The technical accounting advisory market—estimated at over $15 billion—is at an inflection point. Volatility in M&A and heightened regulatory scrutiny have increased demand for specialized analyses around revenue recognition and one-off transactions. At the same time, AI adoption in finance is accelerating: a recent Financial Times review found major accounting firms are expanding AI in audits to streamline manual tasks, but neglecting the deep process controls needed to optimize AI–a meaningful gap UpDraft addresses by design. Meanwhile, strategic M&A in adjacent professional services underscores the momentum, like Clio’s $1 billion acquisition of vLex, a watershed for AI-powered document drafting in legal tech; and Thomson Reuters’ $600 million purchase of SafeSend, expanding tax and accounting automation.
Landmark recent deals like these signal that enterprise software and services buyers recognize AI’s potential to drive efficiency and compliance—validating UpDraft’s specialization in automating qualitative judgment processes.
Valor Managing Partner Lisa Calhoun Joins Newly Formed Board
Lisa Calhoun, Valor VC
To support UpDraft’s next chapter, Lisa Calhoun, Managing Partner at Valor Ventures, joins the newly formed board. Her successful fintech AI investing track record includes the first rounds in Finquery (Atlanta); Funding U (Atlanta), and Vital 4 (Atlanta). Valor’s broader team is also proud of bringing more experience to bear, including venture partners who scaled with Cardlytics including Kirk Somers, Joe Schab and Craig Snodgrass, and general partner Gary Peat’s early investment in SecureTax, acquired by Intuit.
“UpDraft exemplifies the fusion of deep domain expertise and intelligent automation,” says Lisa Calhoun. “ I’m confident UpDraft will set a new standard for technical accounting workflows. Their founders’ blend of expert credibility and engineering is exactly what this market demands.”