Mainstreet
By Mainstreet
Mainstreet is a U.S.-based fintech company that leverages artificial intelligence to help startups and small businesses identify and claim federal, state, and local tax credits and government incentives. Its platform streamlines the process of discovering, qualifying for, and filing tax credits, integrating deeply with payroll and accounting software to automate compliance and operations. Mainstreet’s value proposition centers on making tax savings accessible and effortless, especially for venture-backed and growing businesses.
Mainstreet was founded in 2019 in San Jose, California, by Doug Ludlow and his team. The company quickly gained traction by addressing the complex challenges businesses face in securing government incentives. By 2021, Mainstreet had raised significant venture capital, rapidly expanded its team, and solidified its leadership in the tax credit discovery niche. However, like many fintechs, it faced headwinds in 2022–2023, including staff reductions and a recapitalization to navigate evolving market conditions.
Mainstreet has been venture-backed since its early stages:
It raised $60million in a Series B led by SignalFire in 2021, reportedly at a $500million valuation.
In 2022, amid layoffs and challenging markets, the company raised an additional $85million in a down round, valuing Mainstreet at around $200million.
Mainstreet’s core offerings include:
Automated AI-powered tax credit discovery and matching for R&D credits, Work Opportunity Tax Credits (WOTC), and other incentives.
Direct integrations with major payroll and accounting platforms (e.g., Gusto, ADP, QuickBooks, Xero).
Automated documentation and compliance with IRS rules.
Real-time eligibility assessment and paperwork submission.
Secure client portals for onboarding, status tracking, and support.
Performance-based pricing (only pay if you get credits).
In-house tax experts and support for guiding users.
Mainstreet espouses a culture of:
Customer-centric service: Emphasizing “claim with confidence” and best-in-class support with in-house tax and compliance experts.
Accuracy and compliance: Strict adherence to IRS guidelines—no audit on any company they've helped has been reported.
Innovation: Driving efficiency with advanced proprietary AI and relentless focus on automation.
Transparency: Performance-based pricing and no hidden fees.
Mainstreet’s user base includes thousands of U.S. startups and small-to-midsize businesses, from early-stage VC-funded companies to established SMBs seeking to maximize their returns on innovation and workforce investments. The platform’s focus on automation and performance-based billing appeals to resource-conscious entrepreneurs and finance teams. Community engagement is reflected in user testimonials, partner integrations, and educational outreach supporting entrepreneurship and business growth.
