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Schellman & Company
Avani Desai leads Schellman & Company, a CPA firm focused exclusively on SOC, ISO, and HITRUST attestation for enterprise SaaS companies.
Schellman & Company
Founded in Tampa in 2002, Schellman & Company originated as a traditional CPA firm before narrowing its scope decisively to IT compliance and attestation services. Avani Desai joined the firm's leadership in 2013 and became CEO in 2017, steering the firm through a transformation that shed tax and audit practices to concentrate entirely on technology-focused assessments. The wealth or principal capital backing this structure remains undisclosed, with the firm operating as a privately held professional services company. Schellman's mandate covers the core frameworks that govern enterprise SaaS procurement: SOC 1, SOC 2, and SOC 3 examinations, ISO 27001 certification, HITRUST CSF validation, PCI DSS assessments, and FedRAMP readiness advisory. The firm does not invest third-party capital — it deploys a credentialed workforce of CPAs, CISAs, and QSAs against recurring compliance contracts with cloud-native companies. Clients span North America and include technology platforms seeking to close enterprise sales by proving control environments to buyers' legal and procurement teams. The firm employs over 300 professionals and maintains its headquarters in Tampa, with additional assessment personnel distributed across the United States. In May 2025, the firm announced a majority investment from Lightyear Capital, a private equity firm specializing in financial services and technology-enabled services, marking the first external capital infusion in Schellman's history (per the firm, May 2025). No adjacent investment vehicles, philanthropic foundations, or co-investment clubs are disclosed. Schellman's structural distinction lies in its independence model: the firm performs only attestation engagements, never advisory or implementation work that would create conflicts under auditor independence rules. This positions Schellman as a pure verifier in a market where many competitors blend consulting with certification, a posture that appeals to public companies and late-stage startups facing audit committee scrutiny over assessor objectivity.
General information
Firm type
Asset Manager
Year founded
2002
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Tampa
Corporate office
Tampa, FL, United States
Principals
Avani Desai
CEO
Sector focus
Frequently asked questions
How does Schellman & Company source its deal flow?
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.
Who runs Schellman & Company?
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.
Is Schellman a family office or an investment firm?
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.
What compliance frameworks does Schellman assess?
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.
Why does Schellman not perform advisory work alongside attestation?
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.
What was the significance of the Lightyear Capital investment?
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.
Does Schellman operate internationally or only in the United States?
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.
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