MindBridge
Headquarters
Ottawa, CanadaFounded
2015CEO / Founder
Les RechanEmployees
51-200Funding
Series C — $82MProducts
1 product listedAvg. AI Score
7.7/10Website
www.mindbridge.ai
Profile updated
About MindBridge
MindBridge is an AI-powered financial risk and anomaly detection platform founded in 2015 in Ottawa by Solon Angel. The software analyzes every general ledger and journal entry transaction to help auditors and finance professionals identify errors, fraud, and unusual activity.
MindBridge is used by audit firms and enterprise finance teams globally, including a strategic partnership with KPMG International. The platform is offered through audit firms and directly to corporate finance and internal audit teams.
The company has raised approximately $82 million, including a $60 million growth round led by PSG Equity. Stephen DeWitt, a Silicon Valley veteran, joined as CEO in January 2024.
Specialties
Financials
Dated, source-cited figures. Estimates are marked.
Products by MindBridge
All products by MindBridge reviewed by our AI panel of experts.
How Our Review Panel Scores MindBridge
Six independent reviewer personalities assessed MindBridge's product on their own terms. They disagreed by 1.0 points — The Finance Lead was the hardest to convince, The Domain Strategist the most positive.
Averaged across 1 reviewed product in our catalog. Scores are out of 10.
Competitive Landscape
Who MindBridge competes with, and how they differ.
Diligent's ACL Analytics, bundled inside its board-governance and GRC platform (Diligent One), competes directly for continuous-audit-analytics budgets, but is sold as part of a broader risk/compliance suite rather than a standalone anomaly-detection engine.
1 product reviewed on TopReviewedCaseWare IDEA is the long-established data-analytics tool auditors use to import, script and test large datasets for exceptions, competing with MindBridge for the same audit-analytics budget but relying on auditor-written scripts rather than MindBridge's ML-driven anomaly scoring across the full transaction population.
Arbutus offers similar high-volume data extraction, scripting and continuous-audit-analytics capability for internal and external auditors, competing on the same population-testing use case as MindBridge at a smaller, more specialist scale.
Company Timeline
Key milestones in MindBridge's history, with sources.
- Milestone
Les Rechan named CEO, succeeding Stephen DeWitt
MindBridge Analytics named Les Rechan -- a four-decade enterprise-software executive with CEO/COO stints at Cognos, IBM Business Analytics, Halogen Software and Solace -- as CEO, effective immediately, as the company pushes its emerging "Autonomous Financial Oversight" category.
obj.ca - Milestone
Stephen DeWitt named CEO, succeeding interim CEO Bill Hewitt
MindBridge named enterprise-software veteran Stephen DeWitt, who has held senior roles at Symantec, Cisco and HP, as chief executive, replacing interim CEO Bill Hewitt, who remained on the board.
theglobeandmail.com - Funding
Series C -- $60M USD led by PSG Equity
Boston growth-equity firm PSG Equity invested $60 million USD, valuing MindBridge at $200 million CAD (about double its post-Series B valuation); CEO Leyton Perris and founder Solon Angel departed, with PSG senior advisor Bill Hewitt named interim CEO.
betakit.com - Partnership
Global integration deal with KPMG International
KPMG International agreed to build MindBridge's AI into its global audit methodology, part of KPMG's digital auditing platform used in 143 countries.
theglobeandmail.com - Acquisition
Acquired UK accountancy-tech firm Brevis
MindBridge acquired Brevis Limited, a UK machine-learning accounts-production and corporation-tax platform founded in 2017, bringing on its three founders to expand into the UK and European market.
betakit.com - Funding
Series B -- $15.1M led by PeakSpan Capital, plus $14.5M federal SIF award
MindBridge closed a $15.1 million Series B led by PeakSpan Capital (with Real Ventures, National Bank of Canada and Reciprocal Ventures), announced alongside a separate $14.5 million Strategic Innovation Fund award from the Canadian government -- combined financing of $29.6 million.
betakit.com - Funding
Series A -- $8.4M led by Real Ventures
MindBridge AI raised an $8.4 million Series A led by Real Ventures, with Reciprocal Ventures, National Bank of Canada, The Group Investment and 8VC participating; the company had 125+ customers across six countries at the time.
betakit.com - Funding
Seed round -- $4.3M led by 8VC and Real Ventures
MindBridge Analytics raised a $4.3 million seed round with 8VC, Real Ventures and MaRS IAF, aiming to build AI-based anomaly-detection software for auditors.
betakit.com - Founded
Founded by Solon Angel; Eli Fathi joins as CEO
Solon Angel founded the Ottawa startup in 2015 to apply AI to auditing; Eli Fathi joined as CEO in early 2016, recruiting Robin Grosset, former chief architect with IBM's Watson Analytics group, as CTO.
theglobeandmail.com
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