About Canopy
Canopy is a company based in Lehi (United States) founded in 2014. It operates as a SaaS (Software-as-a-Service). Canopy has raised $292.02 million across 14 funding rounds from investors including Wells Fargo, Ten Coves Capital and Ankona Capital. The company has 104 employees as of December 31, 2020. Canopy offers products and services including Practice Management Suite, Client Engagement, Tax Resolution, and Canopy AI. Canopy operates in a competitive market with competitors including FloQast, SafeSend, Silverfin, Suralink and Grasp, among others.
- Headquarter Lehi, United States
- Employees 104 as on 31 Dec, 2020
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Canopy Tax, Inc.
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$292.02 M (USD)
in 14 rounds
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Latest Funding Round
$70 M (USD), Series C
Apr 23, 2025
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Investors
Wells Fargo
& 11 more
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Employee Count
104
as on Dec 31, 2020
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Products & Services of Canopy
Canopy offers a comprehensive portfolio of products and services, including Practice Management Suite, Client Engagement, Tax Resolution, and Canopy AI.
Software is provided for accounting firm management needs.
Tools are offered for enhancing client relationship management.
Solutions are delivered for managing complex tax issues.
AI tools are integrated for automating routine tasks.
People of Canopy
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Funding Insights of Canopy
Canopy has successfully raised a total of $292.02M across 14 strategic funding rounds. The most recent funding activity was a Series C round of $70 million completed in April 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Canopy
Canopy has secured backing from 12 investors, including venture fund and institutional investors. Prominent investors backing the company include Wells Fargo, Ten Coves Capital and Ankona Capital.
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Fintech startups are funded by this venture capital firm.
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Investments are made by Ankona Capital in early-stage software companies.
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US focused early-stage VC firm
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Investor details for Canopy
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Investments & Acquisitions by Canopy
Investment portfolio details for Canopy
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Financial Statements - Canopy
Detailed financials for Canopy
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Canopy Comparisons
Peer comparison for Canopy
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Competitors of Canopy
Canopy operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as FloQast, SafeSend, Silverfin, Suralink and Grasp, among others.
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Automated account reconciliation is facilitated by a cloud-based platform.
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Tax automation solutions are provided for accountants' digital return delivery.
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Cloud-based accounting workflow and practice management solutions for businesses
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Workflow management software is provided for accounting firms' document handling.
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Grasp is focused on preventing errors in media buying.
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Detailed competitors of Canopy
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Latest news on Canopy
Complete news archive for Canopy
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Frequently Asked Questions about Canopy
Canopy was founded in 2014.
Canopy is headquartered in Lehi, United States. It is registered at Lehi, Utah, United States.
Davis Bell is the current CEO of Canopy.
Canopy is a funded company, having raised a total of $292.02M across 14 funding rounds to date.
As of Dec 31, 2020, the latest employee count at Canopy is 104.
Canopy is established as a provider of all-in-one practice management software tailored for accounting and tax firms. Solutions are offered across various sectors including client engagement, document management, workflow optimization, and tax resolution. The platform is designed to integrate AI-driven tools, mobile app support, and client portals to streamline operations. Services are extended to private equity-backed and future-focused firms, emphasizing data-driven management and practice optimization. Communication and collaboration tools are also provided to enhance client and staff interactions.
Canopy offers Practice Management Suite, Client Engagement, Tax Resolution, and Canopy AI.
Canopy has 12 investors. Key investors include Wells Fargo, Ten Coves Capital, Ankona Capital, Pelion Venture Partners, and Tenaya Capital.