Canopy Raises $13M in Funding

canopyCanopy, a Lehi, UT-based cloud-based practice management platform for tax professionals, raised $13m in funding.

The round, which included $8m in funding and $5m in debt financing, was led by NewView Capital, Pelion Venture Partners and Tenaya Capital.

It brings Canopy’s total funding raised to date to $85 million.

The company also announced that seasoned Silicon Slopes technology executive Davis Bell joined as its new CEO, succeeding founder Kurt Avarell who served in the role since 2014.

Canopy provides cloud-based practice management and tax resolution software to thousands of accounting professionals nationwide and an IRS Transcripts tool. and @CanopyTax.
The company has also refined its product vision, under the lead of Larry Furr, who joined as Canopy’s vice president of product earlier this year. After listening to the needs of its thousands of customers across the country, the company is focusing on its Practice Management and Tax Resolution solutions, which will entail moving its Tax Prep solution to private beta, for public release in the near future.



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