Canopy Raises $35M in Series BB Funding

Canopy, a Draper, UT-based accounting practice management platform, raised $35M in Series BB funding.

The round was led by Ten Coves Capital with participation from NewView Capital, Pelion Partners, Tenaya Capital, and Ankona Capital.

The company intends to use the funds to expand operations and its business reach.

Led by Davis Bell, CEO, Canopy provides a cloud-based practice management software suite designed to increase efficiency and boost revenue for accounting firms. It offers tools for client management, document management, workflow, and time & billing, as well as specialty compliance solutions that help accountants obtain IRS transcripts and resolve notices quickly. Its solutions are SOC2 certified and data encrypted to ensure personal information is secure.