The $650B accounting services industry is undergoing a seismic shift driven by generational workforce
changes, rapid AI adoption, and evolving customer expectations. The number of new accounting
graduates is down nearly 20% since 2016, while experienced CPAs are retiring at increasing rates. At the
same time, AI-powered tools are poised to disrupt repetitive knowledge work, particularly in areas like
bookkeeping, tax prep, and monthly close processes. Meanwhile, demand for Client Advisory Services
(CAS), which offer recurring, value-based financial services, is rapidly rising, growing from just 7% of
firms offering CAS in 2014 to over 50% by 2023. SMBs are increasingly hungry for more strategic
financial advice, wanting to pay less for the actual accounting. Traditional accounting firms are
ill-equipped to meet this demand at scale due to slow technology adoption, legacy staffing situations, and
fear around business model evolution - the classic innovator's dilemma. This confluence of trends signals
a massive opportunity for a new generation of technology-enabled financial services firms to reshape the
SMB finance stack, delivering better margins, scalability, and client outcomes.

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Cast is building a vertically integrated platform that combines real-time financial insights, AI-powered
automation, and human expertise to deliver modern financial management for SMBs. Their solution
targets both the internal inefficiencies of accounting firms and the unmet strategic needs of their SMB
clients. Cast is building its own AI software while also leveraging the best off-the-shelf technology to
embed AI into workflows (e.g., month-end close, cash flow forecasting, spend analysis), empowering
Cast’s accountants to shift from compliance to strategic advisory. Their current strategy combines organic
growth with aggressive M&A, acquiring boutique CAS firms and improving margins and client experience
through their platform. Cast has already acquired its first firm and is deploying software, workflow
improvements, and AI to increase margin, volume and customer happiness. Cast has secured a
significant debt facility to facilitate future M&A. The long-term vision is to become the dominant digital
finance hub for SMBs, with recurring revenue from both software subscriptions and services, underpinned
by proprietary data. Cast is already serving over 150 clients, with strong early traction across restaurant,
nonprofit, retail, and healthcare verticals.

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Cast is led by Matt Talbot, a serial entrepreneur who previously co-founded, built, and exited a leading
Denver high-growth tech startup, GoSpotCheck. His frustration with legacy FP&A tools as a CFO seeded
the idea for Cast. He’s joined by co-founders Joey Alfano and Samantha Holloway, who were also
co-founders of GoSpotCheck. This trio brings a rare combination of technical excellence, domain
expertise in FP&A, and executional experience scaling complex businesses that we love. Their prior
working relationships provide deep trust and operating rhythm, allowing them to move quickly and with
conviction. The team has already demonstrated the ability to pivot thoughtfully, embracing a
non-consensus B2B2C go-to-market model that leverages accountants as distribution channels. With
their clear product vision, operating discipline, and a nuanced understanding of market dynamics, the
Cast team is uniquely suited to build a category-defining company in SMB financial services.

We’ve known the Cast team for over 10 years, having been involved in their prior companies and built a
belief in their ability to execute, big vision and desire to win. They’re great people we’re lucky to back
again in hopes of building an iconic company in Denver.
Cast is lining up M&A opportunities and has capital to acquire small accounting practices. If you, or
people in your network, know of small QuickBooks-based practices that might be open to acquisition,
please let us know.

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The $650B accounting industry is changing due to workforce shifts, AI adoption, and evolving client
needs. New accounting graduates are down, while experienced CPAs are retiring. AI is poised to disrupt
repetitive tasks like bookkeeping. Demand for Client Advisory Services (CAS) is rising, but traditional
firms struggle to meet it. This creates an opportunity for new tech-enabled financial services firms.
Cast is building a platform combining real-time insights, AI automation, and human expertise for SMB
financial management. They target accounting firms' inefficiencies and SMBs' strategic needs, using both
their own AI software and off-the-shelf tech. Their strategy includes organic growth and M&A, acquiring
boutique CAS firms to improve margins and client experience. They've already acquired one firm and
secured debt for future acquisitions. The long-term vision is to be the dominant digital finance hub for
SMBs, with recurring software and service revenue. Cast serves over 150 clients across various verticals.
Cast is led by Matt Talbot, a serial entrepreneur from GoSpotCheck, joined by co-founders Joey Alfano
and Samantha Holloway from the same company. This team brings technical excellence, FP&A expertise,
and experience scaling complex businesses. Their prior relationship ensures deep trust and efficiency.
They've already demonstrated thoughtful pivoting, embracing a B2B2C go-to-market model using
accountants as distribution.

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We've known the Cast team for over 10 years, having backed their prior companies. We believe in their
execution, vision, and drive. We're lucky to back them again to build an iconic Denver company.
Cast is seeking M&A opportunities and has capital to acquire small accounting practices. If you know of
any QuickBooks-based practices open to acquisition, please let us know.

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