HR Company TriNet Buys Clarus R+D to Help SMBs Gain R&D Tax Credits

Human resources (HR) solutions provider TriNet has acquired Clarus R+D Solutions, saying this will expand the range of solutions it offers to include simplifying the research and development (R&D) tax credit process.

Clarus R+D Solutions is a FinTech company that offers a cloud-based software platform as well as a professional services team that helps small and medium-size businesses (SMBs) take advantage of the R&D tax credit that is available to U.S. businesses. The platform automates much of the qualification and application process, according to a Tuesday (Sept. 6) press release.

Many SMBs, including some among TriNet’s professional employer organization (PEO) and human capital management (HCM) customers, qualify for these tax credits but aren’t aware of their eligibility for the credits or don’t have the time or expertise to apply for them, TriNet executives said in the release.

“With the addition of Clarus R+D, TriNet expands its offering to better serve these customers,” TriNet President and CEO Burton M. Goldfield said in the release. “I look forward to leveraging Clarus R+D to put money back in the hands of our hard-working SMB clients.”

Former Clarus CEO Chris Winslow, who now leads TriNet’s newly created Tax Credits Business Unit, said in the press release that the Clarus team will now be better able to grow the solutions it offers.

“We look forward to leveraging TriNet’s scale to help us continue to accelerate our product roadmap in support of our customers and partners,” Winslow said in the release.

As PYMNTS reported in April 2021, the R&D tax credit was designed to incentivize innovation but has in many cases left out SMBs because they don’t know it exists or they assume they won’t qualify.

Read more: Unlocking R&D Tax Credits For The Unsuspecting Small Business

However, FinTech innovation has made it easier than ever to connect firms to what has historically been a hidden source of financial support.

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