TaxBit, a Salt Lake City, UT-based provider of cryptocurrency tax and accounting automation software, raised $100M in Series A funding.
The round was led by Paradigm and Tiger Global with participation from PayPal Ventures, Coinbase Ventures, Winklevoss Capital, Bill Ackman, Qualtrics co-founder and chairman Ryan Smith, Anthony Pompliano, former Venmo COO Michael Vaughan, Galaxy Digital, Valar Ventures, Collaborative, Global Founders Capital, Album Ventures, TTV Capital, Original Capital, and more.
Launched in 2018 and led by Austin Woodward, CEO, TaxBit provides a platform (TaxBit Enterprise and TaxBit Consumer) that automates all aspects of cryptocurrency tax compliance for enterprises, consumers, and governments. The platform has produced and helped customers file over one million sets of tax forms across the market verticals it serves.
The company is also developing a Big Four & SEC grade accounting ERP solution that will publicly launch later this year, along with plans for international expansion in 2021.