Startup

MindBridge

AI risk analytics from Ottawa that scores every journal entry and transaction for audit firms and enterprise finance teams, used by KPMG and BDO.

Audit North America · www.mindbridge.ai · Directory listing

Founded	2015, Ottawa, Canada; headquarters at 80 Aberdeen Street, Ottawa
Founders	Solon Angel founded the company in April 2015; Eli Fathi, chief executive in the early years, is chairman; Les Rechan, former Cognos and IBM Business Analytics executive, has been CEO since April 2026
Stage	Private; growth-equity backed by PSG Equity, with PeakSpan Capital and Real Ventures
Total funding	More than $45m raised by June 2019, followed by a US$60m investment in 2023
Last round	US$60m from PSG Equity, April 2023, for recapitalisation, market expansion and general corporate purposes
Earlier rounds	Series B plus a Government of Canada Strategic Innovation Fund investment, $29.6m combined, June 2019; Series A, $8.4m, May 2018, led by Real Ventures with Reciprocal Ventures, National Bank of Canada, The Group Investment and 8VC; seed round June 2017
What it does	Analyses 100% of journal entries and financial transactions with an ensemble of statistical models, business rules and unsupervised machine learning, and ranks what needs review with an explanation for each flag. Audit firms use it for risk assessment, journal entry testing and risk-based sampling (Augmented Assurance); finance teams use Financial Close Oversight and Spend Integrity Oversight. September 2026 added Agentic Risk Assessment for auditors, an Analysis Designer Agent and an MCP server for AI assistants
Traction	KPMG deploys it across its global audit platform in more than 60 countries; customers include BDO, Buzzacott and MNP; BDO UK began expanding it across its audit practice in June 2026, and it also works with BDO Norway and BDO South Africa; more than 250 billion transactions analysed across 43,000 organisations; partnership with Fieldguide in August 2026
Pricing	Not published; demo on request
Markets	Used in more than 50 countries; sells to audit and assurance firms and to enterprise finance teams, with sector focus on oil and gas, manufacturing and retail
Peers	DataSnipper, Caseware, Inflo, Fieldguide, CoCounsel Audit & Accounting

Why it matters

MindBridge runs inside KPMG’s audit platform in more than 60 countries and across BDO UK’s audit practice, so many finance teams already meet its risk scoring through their external auditor. It sells the same full-population analysis directly to CFOs and controllers for close and spend oversight.