Canopy Secures $30M in Funding

Canopy, a Lehi, Utah-based cloud practice management platform for tax and accounting professionals, closed a $30m financing round.

The round was led by New Enterprise Associates (NEA), with participation from Wells Fargo Strategic Capital, Pelion Ventures, University Growth Fund, and EPIC Ventures.

The company, which has raised $60m to date, will use the funds to continue to expand its business reach in the $100B+ tax software and services market.

Founded in 2014 by Kurt Avarell, CEO, Canopy provides a cloud-based practice management and tax resolution software to more than 5,000 tax and accounting professionals. Those professionals in turn serve more than 1 million clients through the platform.



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