Canopy, a Lehi, Utah-based practice management platform for tax and accounting professionals, extended its latest funding round bringing the total amount to $42m.
The round was led by NEA with additional funding provided by Tenaya Capital and Nyca Partners.
Led by Kurt Avarell, founder and CEO, Canopy provides cloud-based practice management and tax resolution software and a free 2-minute IRS Transcripts Tool. Its Notices solution, launched in May 2018, enables tax and accounting professionals to research, respond, and resolve IRS issues for their clients.
The platform constantly evaluates feedback from customers and closely monitors new changes to industry regulations to develop new features.
The company now will use the funds to continue building its solutions with update releases planned for 2018.