# TaxBit

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

- Industry: Software
- Headquarters: US
- Website: www.taxbit.com
- Total disclosed funding: $238M
- Latest round: Series B (Aug 12, 2021)
- Investors on record: 19

## About

Based in Utah, US, and founded in 2018, TaxBit, Inc. operates as a provider of provider of digital asset tax and accounting solutions. The company was co-founded by Austin Woodward, Bobby Clayson, Brandon Woodward, and Justin Woodward. In April 2024, TaxBit, Inc. raised an undisclosed amount in venture funding led by investor In-Q-Tel.

Taxbit’s platform provides a suite of tools to automate tax reporting, financial reporting, and compliance for digital asset transactions. The product includes features for information reporting, financial sub-ledger management, and government solutions, helping clients stay compliant with global regulations. It customer base includes Fortune 500 companies, regulatory bodies, and enterprises in over 140 countries, providing integration with existing financial systems.

Taxbit generates revenue primarily through its subscription-based model, offering various packages for enterprises, governments, and developers. Their scalable solutions are used by a wide range of organizations to manage their digital asset compliance and reporting needs.

## Funding rounds

- Series B, Aug 12, 2021, $130M — Institutional Venture Partners, Insight Partners, Madrona Venture Group, Sapphire Ventures, Tiger Global Management, 9Yards Capital, Paradigm
- Series A, Mar 2, 2021, $102M — TTV Capital, Tiger Global Management, Valar, Collaborative Fund, Global Founders Capital, Album VC, Winklevoss Capital, Galaxy Asset Management, Coinbase Ventures, PayPal Ventures, Paradigm, Original Capital
- Seed, Nov 21, 2019, $5.1M — TTV Capital, Valar, Collaborative Fund, Global Founders Capital, Album VC, Winklevoss Capital, Table Management, Dragonfly Digital Management
- Seed, Dec 21, 2018, $0.8M — Album VC

## Investors

- Album VC (https://capitalatlas.ai/funds/album-vc) — Seed, Series A
- TTV Capital (https://capitalatlas.ai/funds/ttv-capital) — Seed, Series A
- Valar (https://capitalatlas.ai/funds/valar) — Seed, Series A
- Collaborative Fund (https://capitalatlas.ai/funds/collaborative-fund) — Seed, Series A
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Seed, Series A
- Winklevoss Capital (https://capitalatlas.ai/funds/winklevoss-capital) — Seed, Series A
- Table Management — Seed
- Dragonfly Digital Management (https://capitalatlas.ai/funds/dragonfly-digital-management) — Seed
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series A, Series B
- Galaxy Asset Management (https://capitalatlas.ai/funds/galaxy-asset-management) — Series A
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Series A
- PayPal Ventures (https://capitalatlas.ai/funds/paypal-ventures) — Series A
- Paradigm (https://capitalatlas.ai/funds/paradigm) — Series A, Series B
- Original Capital (https://capitalatlas.ai/funds/original-capital) — Series A
- Institutional Venture Partners (https://capitalatlas.ai/funds/institutional-venture-partners) — Series B
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series B
- Madrona Venture Group (https://capitalatlas.ai/funds/madrona-venture-group) — Series B
- Sapphire Ventures (https://capitalatlas.ai/funds/sapphire-ventures) — Series B
- 9Yards Capital (https://capitalatlas.ai/funds/9yards-capital) — Series B