Beanstalk, a Salt Lake City, Utah-based online SaaS-based tax platform for small-to-medium sized businesses and their advisors, raised $2m in seed funding.
The round was led by venture capital firm New Enterprise Associates (NEA), with participation from EPIC Ventures, Deep Fork Capital, and former Wall Street executive and investor Jim Engebretsen.
The company intends to use the funds to continue building out its core tax technology and to fund its substantial growth in 2014 and beyond.
Founded by CEO Kurt Avarell, Beanstalk provides a SaaS-based comprehensive platform that provides secure document storage, date tracking, and organized note and discussion archives dedicated to small businesses and their advisors. It was launched in limited beta in March 2014.