Elevate Announces Strategic and Capital Investment in Gilmore Advisors LLC. Expands Bay Area presence with San Mateo-based firm

LOS ANGELES, Oct. 7, 2025 /PRNewswire/ -- Elevate LLC ("Elevate"), a national platform for accounting, tax, and advisory firms, today announced that it has invested in Gilmore Advisors LLC, the non-attest business of Gilmore & Associates, LLP, a well-respected San Mateo–based firm serving the San Francisco Peninsula and greater Bay Area. The partnership became effective September 1, 2025.

This marks Elevate's second strategic and capital partnership, following its inaugural transaction with TYS LLP last month, further accelerating its vision of building a next-generation growth platform for accounting, tax, and advisory firms.

Founded by Kevin Gilmore, CPA, Gilmore & Associates has been a fixture in the Bay Area for more than two decades, serving entrepreneurs, privately held businesses, nonprofits, and high-net-worth families. The firm is recognized for its depth in tax planning, financial statement audit, nonprofit and construction expertise, and estate and trust services. The investment preserves the independence of the CPA practice while giving Gilmore & Associates access to Elevate's resources, technology, and growth platform.

"We are excited to partner with Elevate to bring additional resources to our clients while preserving the close-knit, high-touch service that has always been our hallmark," said Kevin Gilmore, Managing Partner of Gilmore & Associates. "This partnership allows us to stay true to our roots while expanding opportunities for our team and clients."

"Gilmore & Associates represents the very best of what we look for in a partner — exceptional leadership, deep industry expertise, and a strong community presence," said Sanjay Agarwal, CEO and Managing Partner of Elevate. "Coming on the heels of our partnership with TYS Advisors, this is another important step in building a platform that empowers great firms to thrive in the next era of the profession."

"Gilmore & Associates is a highly regarded Bay Area firm that was approached by multiple investor-backed suitors," said Phil Whitman, CEO of Whitman Transition Advisors, who advised on the transaction. "Kevin Gilmore and his partners ultimately chose Elevate because of its unique strategic model, long-term vision, and commitment to preserving firm culture. Elevate is building something different — a platform that empowers firms to grow while staying true to who they are."

As part of the transaction, Gilmore & Associates LLP will adopt an alternative practice structure to comply with regulatory standards. Tax and advisory services will be delivered by Gilmore Advisors LLC, while attest services will remain with Gilmore & Associates LLP, an independently owned and licensed CPA firm.

About Gilmore & Associates, LLP

Based in San Mateo, California, Gilmore & Associates, LLP is a leading CPA and advisory firm serving businesses, nonprofits, high-net-worth individuals, and families across the San Francisco Bay Area. The firm specializes in tax planning and compliance, financial statement audits, nonprofit advisory, construction accounting, business planning, and estate and trust services.

About Elevate LLC

Elevate is a purpose-built CPA platform that provides capital, operational infrastructure, and strategic support to leading firms across the country. Backed by long-term investors and operator-led, Elevate enables firms to scale their impact, invest in talent, and stay ahead of the industry's transformation.

SOURCE Elevate LLC