About TaxBit
TaxBit is a company based in Salt Lake City (United States) founded in 2018 by Justin Woodward and Austin Woodward. TaxBit has raised $235.75 million across 7 funding rounds from investors including Coinbase, Galaxy and DRAGONFLY. The company has 118 employees as of December 31, 2023. TaxBit has completed 1 acquisition, including Tactic. TaxBit operates in a competitive market with competitors including Intuit, Visma, Clear, Wave and Xero, among others.
- Headquarter Salt Lake City, United States
- Employees 118 as on 31 Dec, 2023
- Founders Justin Woodward, Austin Woodward
- Stage Unicorn
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Sectors
Financial ServicesTechnology
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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 Taxbit, Inc.
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Funding Insights of TaxBit
TaxBit has successfully raised a total of $235.75M across 7 strategic funding rounds. 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 7
- Last Round Last Round
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First Round
First Round
(09 Jan 2019)
- Investors Count 27
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2024 | Amount | Series B - TaxBit | Valuation |
investors |
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| May, 2022 | Amount | Series B - TaxBit | Valuation | Haun Ventures |
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| Aug, 2021 | Amount | Series B - TaxBit | Valuation | Insight Partners , IVP |
Investors in TaxBit
TaxBit has secured backing from 27 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Coinbase, Galaxy and DRAGONFLY.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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A venture capital firm focused on crypto technology investments.
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Founded Year | Domain | Location | |
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Investment firm scaling software and technology companies from early to late stages.
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Founded Year | Domain | Location | |
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Venture capital investing in AI, biotech, and technology sectors, focusing on seed and early stages in Seattle and beyond.
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Founded Year | Domain | Location |
Investments & Acquisitions by TaxBit
TaxBit has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Tactic.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Crypto accounting software is developed by Tactic.
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1996 |
Financial Statements - TaxBit
Taxbit Comparisons
Competitors of TaxBit
TaxBit 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 Intuit, Visma, Clear, Wave and Xero, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Financial and accounting software is developed for businesses and individuals.
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| domain | founded_year | HQ Location |
Cloud-based ERP software is provided for business management across segments.
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| domain | founded_year | HQ Location |
Technology-enabled accounting and finance solutions are offered for SMBs.
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| domain | founded_year | HQ Location |
Web-based accounting software is offered for business use.
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| domain | founded_year | HQ Location |
Cloud-based accounting and payment management is offered for small businesses.
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| domain | founded_year | HQ Location |
Cloud-based invoicing and accounting software is offered for businesses.
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Frequently Asked Questions about TaxBit
TaxBit was founded in 2018 and raised its 1st funding round 1 year after it was founded.
TaxBit is headquartered in Salt Lake City, United States. It is registered at Salt Lake City, Utah, United States.
Austin Woodward is the current CEO of TaxBit. They have also founded this company.
TaxBit is a funded company, having raised a total of $235.75M across 7 funding rounds to date. The company's 1st funding round was a Series B of $130M, raised on Jan 09, 2019.
As of Dec 31, 2023, the latest employee count at TaxBit is 118.
TaxBit was founded in 2018 in Salt Lake City, United States, focusing on the fintech sector for cryptocurrency taxation. Tools for tax computation, portfolio analytics, audit support, and returns filing are provided, covering cryptocurrencies, equities, commodities, and fiat currencies. Operations cater to individuals and businesses through subscription models based on transaction volume, with services accessible via the taxbit.com domain.
TaxBit has made 1 acquisition, including Tactic.
TaxBit has 27 investors. Key investors include Coinbase, Galaxy, DRAGONFLY, Haun Ventures, and Insight Partners.
The valuation of TaxBit is $1.33B as of Aug 2021.