Crypto tax automation software firm TaxBit raises $130m



Cryptocurrency tax automation software provider TaxBit has raised $130 million in Series B funding at a $1.33 billion valuation.

Coming just months after a $100 million Series A, the latest round was co-led by IVP and Insight Partners, with participation from Madrona Venture Group, Tiger Global, Paradigm, 9Yards Capital and Sapphire Ventures.

Founded by brothers Austin and Justin Woodward in 2018, TaxBit automates all aspects of cryptocurrency tax compliance for consumers, businesses, and exchanges.

Founded in Salt Lake City, the company recently opened a second headquarters in Seattle and has tripled its workforce to 100 people this year.