Executive Summary
From ISP to Software Innovator
gaiia’s journey is anything but conventional. The company began as oxio, a Quebec-based internet service provider (ISP) that became Canada’s fastest-growing ISP before exiting to Cogeco for $100M in 2023.. While building their ISP business, the team recognized a critical gap in the market: The existing operating systems for internet service providers were inadequate for modern needs.
Rather than continuing to work with subpar infrastructure, gaiia built their own comprehensive OSS/BSS (Operating Support System/Business Support System) from scratch. The gaiia platform handles everything an ISP needs to operate, from tracking physical router inventory and managing support tickets to billing customers and schedule technicians. It’s the behind-the-scenes system that powers the entire ISP operation.
In early 2023, the company made a bold strategic pivot. They sold oxio’s telecommunications operations to Cogeco Connexion and began operating solely as an OSS/BSS software provider. This included building a platform that has since run more than 10 million workflows for operators across fiber, fixed wireless, cable, and MVNO segments.
THE R&D TAX CREDIT CHALLENGE
As gaiia transformed from an established ISP into a high-growth SaaS company, the business faced a common challenge: Maximizing R&D tax credit opportunities while running a lean finance operation.
Prior to the saleof oxio, the company had successfully claimed SR&ED credits with Boast’s support, but the company hadn’t qualified for many provincial Quebec programs because a portion of the revenue and assets were tied to the ISP business rather than solely technology development. Once gaiia emerged as a pure SaaS company with a substantial R&D team, new opportunities opened up—particularly Quebec’s CDAE (crédit d’impôt pour le développement des affaires électroniques) tax credit program.
THE BOAST SOLUTION
Expert Partnership with Minimal Time Investment
gaiia’s relationship with Boast began during the oxio days, when they first started claiming SR&ED credits. As the company transformed and new opportunities emerged with the CDAE program, Boast’s value proposition became even more critical.
“The platform makes it easy to upload the data they need,” Erin Bury, Head of Finance at gaiia, explains. “I provide all the finance data, and it’s straightforward.”
Streamlined SR&ED Process
The foundation of Gaiia’s success with R&D tax credits lies in Boast’s efficient SR&ED claim process. Despite the complexity of documenting R&D activities for a team of 50+ R&D professionals, the time needed to prepare the claim is limited.
The flexibility extends to how Boast works with gaiia’s CTO Olivier Falardeau. Initially, Ollivier wrote much of the technical documentation himself. As the team grew and his responsibilities expanded, Boast adapted the process to rely more on interviews rather than written submissions, accommodating the reality that CTOs at high-growth companies have increasing demands.
“I look at programs where I need limited support from our Engineering team as awesome,” Bury notes. “Engineers love writing code—they didn’t become CPAs for a reason. Boast made it really easy for me to provide all the data without pulling our technical team away from building our product.”
Quebec CDAE: Expertise Where It Matters Most
The Quebec CDAE program represented new territory for gaiia. The CDAE focuses on e-business development activities and offered an opportunity to top up their SR&ED claims, but only if they could navigate Quebec’s specific requirements.
This is where Boast’s Quebec-specific expertise proved invaluable. The team’s bilingual capabilities and established relationships with Investment Québec removed what could have been significant obstacles.
The CDAE process required limited involvement from gaiia’s Engineering team. Aside from their CTO conducting the presentation with Investment Québec, Bury handled everything administratively with Boast’s support.
“For the CDAE specifically, the team was clear at the start about what to potentially expect,” Bury explains. “They framed it as ‘this is topping up on top of SR&ED—it’s not going to be the same amount, but if we’re already doing the work, there’s no point leaving this money on the table.’ And it was really, for me, the easiest money we don’t want to leave on the table.”
Pragmatic Approach to Realities
Unlike larger accounting firms that might demand robust time-tracking systems and extensive documentation, Boast understands the realities of high-growth company operations.
“I like how the team is pragmatic,” Bury says.
This pragmatism extends to how Boast manages the relationship with Quebec authorities. When meeting with Investment Québec for the CDAE certification process, the experience was notably positive.
RESULTS
Maximum Return with Minimal Time Investment
The partnership with Boast has delivered tangible value across multiple dimensions for gaiia:
Efficient Resource Allocation
With only 8-10 hours of Bury’s time invested per SR&ED claim cycle, gaiia maximizes their R&D tax credit recovery without sacrificing bandwidth needed for other critical initiatives..
"The amount of money we received felt proportional to the time invested," Bury notes. "It felt like a good use of my time, and that's exactly what you want from these programs."
Foundation for Long-Term Success
Successfully navigating the CDAE process in year one sets gaiia up for continued success, even as the program evolves to include AI development components starting in 2026.
“Part of it was getting that first certificate,” Bury notes. “Year one is the most lift, and that still was very manageable. So I think we can do it for 2025. Even if the program changes, the time I’ve spent for the money we’re expecting to receive still felt worth it.”
Finance as a Value Driver
For a lean finance team, demonstrating measurable value creation is critical.
“Finance is often a cost center,” Bury reflects. “So any grants I can secure that create value for the company feel great.”
WHY BOAST
Why gaiia Chose Boast Over Alternatives
gaiia’s experience working with Boast contrasts sharply with both tech-only competitors and traditional accounting firms:
Not Just Software
While automated R&D tax credit platforms promise low-cost, AI-driven solutions, they lack the human expertise and regional specialization that gaiia needed—particularly for navigating Quebec’s CDAE program and building credibility with Revenu Québec.
“The team is really flexible,” Bury says, noting how Boast adapted to gaiia’s changing availability and communication preferences over time. “They understand how high-growth companies actually work.”
“There’s a pragmatic understanding of high-growth company realities that you don’t get from traditional firms.”
Not Just Another Service Line
Unlike Big 4 accounting firms where R&D tax credits might be just another checkbox on a broader service menu, Boast brings specialized focus to this specific domain.
Regional Expertise That Matters
For a Quebec-based company with significant provincial R&D tax credit opportunities, Boast’s bilingual team and established relationships with Quebec authorities provide tangible value.
“Having people at Boast who can speak French makes a huge difference in those meetings,” Bury notes. “It’s about credibility with the authorities who are evaluating your claims.”
LOOKING AHEAD
Scaling with Confidence
As gaiia continues scaling—backed by a $40M Series B led by JMI Equity announced in May 2026—and expands their OSS/BSS platform across North American markets, .
The company’s focus on hiring top engineering talent in Quebec means their R&D activities will continue qualifying for both federal SR&ED and Quebec CDAE programs.
With Boast handling the complexity of navigating these programs, Bury can focus her attention on the strategic priorities that will drive gaiia’s next phase of growth
“The process went really smoothly,” Bury concludes. “We were able to do this without it really adding to my workload. It was just a few nice meetings, and now we have that foundation set for year two and beyond.”
Key Takeaways
For Finance Leaders at Quebec-Based Tech Companies:
- R&D tax credits (SR&ED and CDAE) can offset a portion of R&D costs without requiring extensive engineering team involvement
- Regional expertise and language capabilities matter when building credibility with Quebec authorities
- The right partner should adapt to your startup’s realities, not demand perfect documentation systems you don’t have
For Fast-Growing SaaS Companies:
- Comprehensive R&D tax credit programs are manageable with the right platform and expertise
- Year one CDAE-IA setup creates a foundation that makes subsequent claims increasingly efficient
- Complex business circumstances can be accommodated with specialized expertise
The Boast Difference:
- 8-10 hours of finance team time per SR&ED claim cycle (vs. 150+ hours reported with some competitors)
- Bilingual team capable of engaging directly with Revenu Québec and Investment Québec
- Specialized Quebec expertise for navigating CDAE alongside federal SR&ED programs
- Flexible engagement model that adapts as your team’s bandwidth and priorities evolve
