Proof of Usefulness Report

Facta

Analysis completed on 1/21/2026

+74
Proof of Usefulness Score
You're In Business

Facta is a legitimate, venture-backed SaaS platform (Seed stage, raised $4M in 2023) solving genuine financial reporting problems for mid-sized businesses. However, the submission itself contained demonstrably false claims (e.g., 'most people have used my product', 'audience reach: everyone') and nonsensical data, which heavily penalized the score. While the underlying technology and business traction are promising (customers include Ramp, AppOmni), the evaluation reflects the disparity between the high-quality project and the low-quality submission.

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Score Breakdown

Real World Utility+85.0
Audience Reach Impact+30.0
Technical Innovation+70.0
Evidence Of Traction+85.0
Market Timing Relevance+80.0
Functional Completeness+5.0
Subtotal+67.25
Usefulness Multiplierx1.10
Final Score+74

Project Details

Project URL
facta.io
Description
We are building a SaaS layer that fully integrates with existing small business accounting software so mid-sized companies can efficiently produce financial results and insights at a reasonable cost. Currently, accountants at mid-sized companies rely heavily on spreadsheets to create financial results. This process is inefficient and unorganized. Our software replaces spreadsheets with purpose-built SaaS tools and standardizes data structures and workflows. By moving accounting processes into a SaaS environment, we can make accounting easier and faster, which gives users time to be strategic and impactful within their organizations.

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline