Sofia-based Quillon raises $1.5M for audit-grade AI in accounting

Quillon, an AI platform for technical accounting
and financial reporting, today announced the close of $1.5 million in pre-seed
funding and its rebrand from Acclara AI. The round was led by 42CAP, with
participation from angel investors affiliated with NVIDIA and Roblox, who
backed the company ahead of the institutional round.

Founded in 2023 by Nikolay Dakov, Ivaylo Stefanov, and Atanas Dobrev, Quillon is built in Sofia, with operations in San
Francisco, and focuses on technical accounting – a specialised area that
involves interpreting complex accounting standards and preparing detailed memos
designed to withstand scrutiny from auditors and, in some cases, the US
Securities and Exchange Commission.

This analysis underpins critical financial
decisions, including mergers, debt restructurings, and revenue recognition,
where errors can lead to restatements, regulatory inquiries, and material
financial impact.

While many accountants have begun using
general-purpose AI tools to manage increasing workloads, such tools often lack
auditability. They may generate unverifiable or incorrect citations and fail to
provide a clear connection between conclusions and underlying accounting
standards.

Quillon addresses this gap through a platform
built on a proprietary knowledge graph of accounting standards, integrated with
EDGAR. It enables users to navigate accounting questions step by step, linking
each conclusion directly to source material, while combining research, contract
analysis, peer benchmarking, and memo drafting in a single workflow.

The system allows accountants to review, edit,
and validate each stage, maintaining human oversight while increasing
efficiency, with every output traceable to its originating source.

“For two years we’ve watched technical
accountants try to use general-purpose AI to keep up with a workload that’s
outpaced hiring,” said Nikolay Dakov, co-founder and CEO of Quillon.

They
couldn’t – because no auditor will defend output that the AI cannot cite. We built
Quillon to close that gap: a workspace where the AI does the analysis, the
accountant drives at every step, and every claim traces back to the exact
paragraph in the standards.

The platform initially focuses on technical
accounting memos, which inform nearly all financial reporting decisions within
public companies. The company plans to expand into broader financial reporting
workflows, including quarterly and annual disclosures.

The funding will be used to expand Quillon’s
engineering and go-to-market capabilities, supporting its transition from a
research-oriented product to a platform that produces finalised deliverables
and performs end-to-end accounting workflows.