The technology and content company Thomson Reuters has acquired Additive. The San Francisco-based startup, founded in 2023, uses cutting-edge AI to automate tax document processing for tax and accounting professionals.
Additive’s GenAI-native platform streamlines the repetitive, time-consuming task of ingesting and parsing pass-through entity documents, including Schedule K-1 federal tax forms, during tax preparation workflows. This transaction complements Thomson Reuters existing tax workflow automation capabilities.
“In a profession under mounting pressure to do more with less—amid staffing constraints, rising client expectations, and compressed filing timelines—driving greater efficiency is imperative. Schedule K1s are among the most labor-intensive forms tax professionals handle. We’re delighted to bring our customers critical K1 ingestion capabilities with Additive to save time while maintaining high accuracy,” said Elizabeth Beastrom, President of Tax and Accounting Professionals at Thomson Reuters. “AI-powered solutions are the future of the profession, and Additive’s solution helps professionals focus their time where judgment matters most—reclaiming capacity, elevating advisory work, and delivering faster, with confidence.”
“From day one, our mission at Additive has been to remove the friction that keeps tax and accounting professionals from doing their best work,” said Dwight Crow, Chief Executive Officer and co-founder of Additive. “As part of Thomson Reuters, we can now put our AI-powered document processing capabilities in the hands of many more firms, faster. Together, we’ll accelerate our vision, and leverage Thomson Reuters scale.”
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Tags: Accounting, Technology
