About GruntWorx
GruntWorx is a company based in Hampton (Australia) founded in 2005 was acquired by Drake Software in August 2011.. GruntWorx has raised $26.4 million across 3 funding rounds from investors including Drake Software, Commonwealth Capital Ventures and Pilot House Ventures. GruntWorx offers products and services including GruntWorxLITE, Organize, Populate, Trade Details, and Trade Summary. GruntWorx operates in a competitive market with competitors including Kivra, Hubdoc, Neat, Dext and Docsumo, among others.
- Headquarter Hampton, Australia
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Sectors
Technology
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Gruntworx, Llc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$26.4 M (USD)
in 3 rounds
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Latest Funding Round
$10.2 M (USD), Series B
Oct 22, 2009
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Investors
Drake Software
& 2 more
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Employee Count
Employee Count
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Acquired by
Drake Software
(Aug 17, 2011)
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Products & Services of GruntWorx
GruntWorx offers a comprehensive portfolio of products and services, including GruntWorxLITE, Organize, Populate, Trade Details, and Trade Summary. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Light tool for basic tax organization and data automation.
Software for efficiently sorting and managing tax documents.
Automates populating tax software with user-provided data.
Handles trade-related tax data for accurate reporting.
Generates summaries of trade activities for tax purposes.
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Funding Insights of GruntWorx
GruntWorx has successfully raised a total of $26.4M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $10.2 million completed in October 2009. 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.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $10.2M
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First Round
First Round
(05 Apr 2007)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2009 | Amount | Series B - GruntWorx | Valuation | Commonwealth Capital Ventures , Pilot House Ventures |
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| Oct, 2009 | Amount | Unspecified - GruntWorx | Valuation |
investors |
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| Apr, 2007 | Amount | Series A - GruntWorx | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in GruntWorx
GruntWorx has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Drake Software, Commonwealth Capital Ventures and Pilot House Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Tech & offline focused VC firm investing in early & growth stage startups in the US
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location | |
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Professional tax preparation software is developed for tax professionals.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by GruntWorx
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - GruntWorx
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Gruntworx Comparisons
Competitors of GruntWorx
GruntWorx 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 Kivra, Hubdoc, Neat, Dext and Docsumo, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Invoice digitization tools are provided for business data management.
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| domain | founded_year | HQ Location |
Financial documents are automated and managed for accountants and businesses.
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| domain | founded_year | HQ Location |
Cloud-based digital filing systems are provided for small businesses.
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| domain | founded_year | HQ Location |
Provider of bookkeeping automation software for businesses and accountants
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| domain | founded_year | HQ Location |
Data from unstructured documents is extracted via cloud-based automation.
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| domain | founded_year | HQ Location |
Automated document processing software is developed for business automation.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about GruntWorx
When was GruntWorx founded?
GruntWorx was founded in 2005 and raised its 1st funding round 2 years after it was founded.
Where is GruntWorx located?
GruntWorx is headquartered in Hampton, Australia. It is registered at Hampton, Victoria, Australia.
Is GruntWorx a funded company?
GruntWorx is a funded company, having raised a total of $26.4M across 3 funding rounds to date. The company's 1st funding round was a Series A of $6M, raised on Apr 05, 2007.
What does GruntWorx do?
GruntWorx provides software for tax automation organization. Secure, web program automates, organizes populates into leading tax software. Its family of products has been in use for multiple tax seasons by thousands of accounting professionals from sole practitioners to those working in large regional firms and the Big 4. GruntWorx is the product of choice for tax professionals with more than 4 million processed tax forms this past tax season. It has earned multiple accolades, including back-to-back Technology Innovation Awards and a Readers Choice Award from The CPA Technology Advisor, Accounting Todays Top 100 Ones to Watch, and a K2 Annual Quality Award.
What products or services does GruntWorx offer?
GruntWorx offers GruntWorxLITE, Organize, Populate, Trade Details, and Trade Summary.
Who are GruntWorx's investors?
GruntWorx has 3 investors. Key investors include Drake Software, Commonwealth Capital Ventures, and Pilot House Ventures.