Schellman & Company

Schellman does not source investment deal flow. The firm generates revenue through professional services engagements — recurring compliance assessments, certifications, and attestation examinations for technology companies. Clients typically engage Schellman directly or through procurement-driven vendor risk management processes at enterprise buyers.

Avani Desai serves as CEO, a role she has held since 2017. She joined the firm in 2013 and led the strategic pivot that narrowed the firm's focus exclusively to IT compliance and attestation services, shedding traditional CPA tax and audit practices.

Schellman & Company is neither a family office nor an investment manager. The firm is a professional services company structured as a CPA firm that performs cybersecurity and compliance attestation. It does not manage outside capital or invest in operating companies. In May 2025, private equity firm Lightyear Capital acquired a majority stake.

The firm's core assessment portfolio includes SOC 1, SOC 2, and SOC 3 examinations under AICPA standards; ISO 27001 certification; HITRUST CSF validation; PCI DSS assessments; and FedRAMP advisory services. This scope covers the primary frameworks enterprise buyers require from SaaS vendors.

The firm maintains a strict independence model by performing only attestation engagements. Under AICPA and PCAOB auditor independence rules, providing advisory or implementation services to an attestation client creates conflicts that can impair the objectivity of the assessment. This structure appeals to companies preparing for IPO or subject to audit committee oversight.

The May 2025 majority investment from Lightyear Capital represented the first external capital in Schellman's 23-year history. It signaled a transition from a founder-led partnership model toward an institutionalized ownership structure, intended to fund service expansion and geographic growth.

Schellman's headquarters is in Tampa, Florida, with assessment personnel distributed across the United States. The firm primarily serves North American technology companies. No international office locations are publicly disclosed.