Canopy closes $20M Series B round
Canopy, which makes a practice management platform for tax professionals, has raised $20 million in its latest round of funding, a Series B effort led by Pelion Venture Partners. This brings the company’s total funding to $30 million to date. Canopy’s product is a cloud-based platform designed to streamline the tax filing workflow process for both the tax accountant and their client, and the funds will be used to improve the software.
According to Canopy, its eponymous software addresses the growing popularity of do-it-yourself tax options by providing tax professionals with an attractive, simple option to offer their clients.
“Our vision is that tax professionals will be able to focus their time and energy on consulting their clients, rather than the repetitive busywork they are typically buried in,” said founder and CEO Kurt Avarell in a statement. “Canopy saves tax practitioners an average of 5-10 hours per week. “This funding makes it possible for us to tackle some of tax professionals’ biggest pain points, and for their clients to get the experience they’re looking for when they turn to a professional for help with their taxes … Modern tax professionals need to create an intuitive, transparent experience for their clients if they want to compete in today’s market.”
In the wake of its recent growth, Canopy is hiring. For more information, click here.