# LumaTax

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lumatax

- Industry: Software
- Headquarters: Seattle, US
- Website: www.lumatax.com
- Total disclosed funding: $2M
- Latest round: Seed (Aug 31, 2016)
- Investors on record: 3

## About

Based in the US, LumaTax, Inc. is a software-as-a-service provider focused on simplifying sales tax compliance for businesses operating in the US and Canada.LumaTax develops a platform that automates sales tax compliance management. Founded in Seattle, US in 2016 by Robert Schulte, the company has successfully secured six funding deals, with the most recent round occurring on April 12, 2023, raising USD 6.12 mn led by Trilogy VC. The total amount raised by LumaTax is USD 6.12 mn, involving multiple investors including Cowboy Ventures, Greycroft Partners, KPMG Capital, Madrona Venture Group, Trilogy VC, and Vulcan Capital.LumaTax provides an automated solution for managing sales tax compliance, specifically targeting US and Canadian markets. The platform streamlines sales tax filings by generating ready-to-file returns directly from sales data. It addresses complex compliance challenges, automating the collection and reconciliation of transaction data from multiple sources like Amazon and Stripe, thereby reducing administrative burdens. Primary users include small to mid-sized businesses looking to simplify their tax management processes and mitigate compliance risks.LumaTax generates revenue through subscription-based services that grant clients access to their tax compliance platform. Clients engage on a contractual basis, securing a steady revenue stream through various pricing plans tailored to different business sizes and complexities. The flagship LumaTax platform not only automates tax filings but also serves as a centralized hub for managing past filings and ensuring compliance with regulations.Following the acquisition of LumaTax, Inc. by Taxually Limited Liability Company on April 12, 2023, the strategy for future growth focuses on accelerating expansion globally across both Enterprise and E-commerce segments. The acquisition aims to enhance Taxually's indirect tax product suite. Specific timelines for the rollout of new products and geographic market expansions have not yet been disclosed.

## Funding rounds

- Seed, Aug 31, 2016, $2M — Madrona Venture Group, Greycroft, Gaingels

## Investors

- Madrona Venture Group (https://capitalatlas.ai/funds/madrona-venture-group) — Seed
- Greycroft (https://capitalatlas.ai/funds/greycroft) — Seed
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Seed