TaxBit, a crypto tax and accounting software supplier located in Salt Lake City, Utah, revealed on Tuesday that it has secured a fresh investment from Haun Ventures, a new startup fund dedicated to helping innovators develop the internet’s next generation.
TaxBit will use the investment to expand its tax and accounting platform and to provide further solutions to the crypto sector. It will also assist customers and companies in reporting and paying crypto taxes.
Goal is to support crypto entrepreneurs, Haun Venture
Haun Ventures was founded in March with the goal of supporting crypto entrepreneurs. The venture capital firm began with $1.5 billion in funding split between two funds: a $500 million early-stage investment and a $1 billion “acceleration” fund.
Haun Ventures said that it has assembled the best team of crypto-native specialists and experienced policy and strategy operators to work with TaxBit to inform viewers about the tax and accounting infrastructure that supports crypto-economic growth.
Haun Venture and TaxBit share the same vision
Haun Ventures owner Katie Haun spoke about the cooperation and said: “The web3 ecosystem has significantly expanded. TaxBit offers the foundation for the crypto economy’s growth and development. We’re happy to publicly support TaxBit and collaborate with them for the longest period because their staff is best-in-class.”
Austin Woodward, the founder and CEO of TaxBit, also remarked that “The Web3 ecosystem relies heavily on TaxBit’s compliance infrastructure. We have high regard for the Haun Ventures team and look forward to collaborating on our common goals.”
Investment for TaxBit
TaxBit acquired $130 million in a Series B fundraising round hosted by IVP and Insight Partners in August of last year. Other investors in the round included Tiger Global, Paradigm, and 9Yards Capital.
TaxBit had previously secured a $100 million Series A round of investment in March of last year. With a $1.33 billion value, TaxBit has officially become a unicorn.
