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 |
| 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 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. 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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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 |
| 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 TaxBit
TaxBit has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Tactic. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| 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 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Crypto accounting software is developed by Tactic.
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1996 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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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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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - TaxBit
| 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 |
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. 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 |
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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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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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Latest news on Taxbit
Frequently Asked Questions about TaxBit
When was TaxBit founded?
TaxBit was founded in 2018 and raised its 1st funding round 1 year after it was founded.
Where is TaxBit located?
TaxBit is headquartered in Salt Lake City, United States. It is registered at Salt Lake City, Utah, United States.
Who is the current CEO of TaxBit?
Austin Woodward is the current CEO of TaxBit. They have also founded this company.
Is TaxBit a funded 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.
How many employees does TaxBit have?
As of Dec 31, 2023, the latest employee count at TaxBit is 118.
What does TaxBit do?
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.
How many acquisitions has TaxBit made?
TaxBit has made 1 acquisition, including Tactic.
Who are TaxBit's investors?
TaxBit has 27 investors. Key investors include Coinbase, Galaxy, DRAGONFLY, Haun Ventures, and Insight Partners.
What is TaxBit's valuation?
The valuation of TaxBit is $1.33B as of Aug 2021.