TaxBit, a developer of tax calculation and cryptocurrency accounting automation software, has raised $130m in a Series B funding round. The start-up joined the $1.33bn unicorn club.
TaxBit Raises $130M Series B at $1.33B Valuation to Disrupt Legacy Tax Information Reporting. Dozens of financial institutions commit to real-time tax center solutions. https://bit.ly/SeriesBTaxBit
The round was led by IVP and Insight Partners. Its participants included Tiger Global, Paradigm, 9Yards Capital, Sapphire Ventures, Madrona Venture Group and Morgan Creek Digital co-founder Anthony Pompliano.
As part of the deal, IVP general partner Tom Loverro joined the company's board of directors.
TaxBit will use the capital raised to scale its ecosystem of tax and accounting offerings for the corporate, consumer and government sectors.
The company plans to double its headcount by year end and open new offices in the US and UK to continue its international expansion.
Recall that TaxBit raised $100m in a Series A funding round in March 2021.