Blue J, a Toronto, Canada-based tax analysis platform, raised $9M in Series B funding.
The round was led by Generation Ventures with participation from Relay Ventures, Mistral Venture Partners and LDV Partners. In conjunction with the financing, Geoff Beattie, Chairman of Generation Ventures, is joining Blue J’s board of directors.
The company intends to use the funds to accelerate development and adoption of its tax analysis platform, add new executives to lead sales and marketing, and a new tax diagramming solution.
Led by Benjamin Alarie, Blue J provides predictive tools for analysis of the merits of tax and legal positions. Blue J has signed on more than 200 organizations as customers, including North American law firms, global accounting firms, and the Canadian federal government. The company’s new tax diagramming solution streamlines documenting and analyzing the tax implications of the complex relationships among entities. Blue J’s tax diagramming solution is purpose-built for tax practitioners and opens up new ways to leverage AI and machine-learning in analysis of the merits of tax positions.
The company has more than 65 employees.