TaxBit Secures $130 Million in Series B Funding Round at $1.33 billion Valuation

TaxBit, a cryptocurrency tax software platform and accounting firm, has raised $130 Million in a Series B funding round, boosting its valuation to $1.33 billion.

The latest funding round was led by IVP and Insight Partners with the participation from Tiger Global, Paradigm, 9Yards Capital, Sapphire Ventures, Madrona Venture Group and Anthony Pompliano.

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The recent announcement comes after the company raised $100 million in Series A funding round in March this year to continue to scale world-class tax and accounting products.

The company will use the new funds to scale its multi-channel ecosystem of tax and accounting offerings across enterprise, consumer, and government sectors.

​"TaxBit has vaulted to unicorn status amid the boom in cryptocurrency trading. TaxBit seeks to cut through the complexity by offering individuals and institutions tools to track portfolios and trades and simplify tax reporting," according to the company.