Tax resolution software Canopy raised an addition $30 million in new Series B financingled by Silicon Valley-based New Enterprise Associates, announced this week. Wells Fargo Strategic Capital, Pelion Ventures, University Growth Fund, and EPIC Ventures also participated in the round.
Utah-based Canopy was founded in 2014 by Kurt Avarell, a former tax attorney. The startup aims to help accounting professionals manage their workflows and client documents through its online practice management and tax resolution products. The Canopy portals allow tax accountants to collaborate with their clients on tax paperwork remotely, as well as to use the automated system to gather insight about their clients’ tax solutions.
The early-stage startup previously raised a $2 million Seed round in July of that year, also led by New Enterprise Associates with participation by EPIC Ventures and San Francisco-based Deep Fork Capital. Its Series A in July 2015 led, again, by New Enterprise Associates brought in $8 million for Canopy and was followed by a $20 million Series Bround led by Salt Lake City-based Pelion Venture Partners
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