Utah based tax management startup Canopy Tax has raised $20m in Series B funding led by Pelion Venture Partners. Canopy Tax's platform offers a much more streamlined workflow for the tax professional compared to the industry's antiquated standards.
Thousands of tax professionals and millions of their clients waste countless hours on tax filings every year; furthermore, practitioners are forced to juggle complex tax regulations, filing deadlines, and client relationships with outdated software. Until Canopy, there hasn’t been a comprehensive, cloud-based software solution to help tax professionals manage this chaotic workflow. “Our vision is that tax professionals will be able to focus their time and energy on consulting their clients, rather than the repetitive busywork they are typically buried in,” said Kurt Avarell, Canopy Founder and CEO. Canopy saves tax practitioners an average of 5-10 hours per week. “This funding makes it possible for us to tackle some of tax professionals’ biggest pain points, and for their clients to get the experience they’re looking for when they turn to a professional for help with their taxes.”