TaxBit Raises $130 Million in a Series B at a $1.33 Billion Valuation

by Kay Aloha Villamor in August 16th, 2021

TaxBit, a cryptocurrency tax, and accounting software company, has announced that it has raised $130M in a Series B round at a valuation of $1.33 billion. The round was led by IVP and Insight Partners with the additional participation of Tiger Global, Paradigm, 9Yards Capital, Sapphire Ventures, Madrona Venture Group, and Anthony Pompliano. 

TaxBit will use the funds to scale our multi-channel ecosystem of tax and accounting offerings across the enterprise, consumer, and government sectors. And open new offices in both the US and the UK to fuel international expansion. 

Company: TaxBit

Raised: $130.0M

Round: Series B

Funding Month: August 2021

Lead Investors: IVP and Insight partners 

Additional Investors: Tiger Global, Paradigm, 9Yards Capital, Sapphire Ventures, Madrona Venture Group, and Anthony Pompliano

Company Website: https://taxbit.com

Software Category: cryptocurrency tax and accounting software

About the Company: TaxBit is a cryptocurrency tax and accounting software. With TaxBit, users can link their exchanges and wallets to seamlessly pull their transactions through their tax engine and auto-generate tax forms. Aside from automating taxes, TaxBit provides crypto enthusiasts real-time portfolio tracking and tax optimization visibility so that they can make tax-optimized crypto trades throughout the year. TaxBit connects the consumer and enterprise cryptocurrency tax experiences.

Source: https://taxbit.com/blog/taxbit-raises-130m-series-b-at-1-33b-valuation-to-disrupt-legacy-tax-information-reporting/

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