Fundraising Fox

Canopy Tax

South Jordan, US · Founded 2014 · Delaware corporation · 315 employees on LinkedIn · 7 known investors

Canopy is a cloud-native, all-in-one practice management platform for U.S. accounting, CPA, tax, and bookkeeping firms, combining client management, documents, billing, workflow, and communication in one login. It offers AI-enhanced modules and an AI agent that automates repetitive tasks, monitors firm activity, and executes workflows within the platform.

AI & Machine LearningFintechSaaS

Founders & leadership

Canopy Tax was founded in 2014 by Kurt Avarell.

KA
Kurt AvarellFounder
DBDavis Bell
Davis BellExecutive

Board

NM
Ned MayBoard director
JHJosh Harmsen
Josh HarmseninBoard MemberManaging Director at Ankona Capital
ASAnkit Sud
Ankit Sudin𝕏Board directorPartner at NewView Capital
CP
Chetan PuttaguntaBoard director
BC
Brain CroftsBoard director

Investors · 7

Ankona CapitalSouthern California · $5M – $15M
Tenaya CapitalPalo Alto · $5M – $10M
New Enterprise Associates (NEA)reportedMenlo Park · $200K – $40M
NewView Capitalreported · 2 sourcesBurlingamevia Ankit Sud · board
Pelion Venture Partnersreported · 2 sourcesSalt Lake City · $1M – $20M
Pelion VenturesreportedSalt Lake City
Ten Coves CapitalreportedDarien

Reported raises · per SEC filings

Form D private placements

$155.9M disclosed across 8 rounds · 2014–2025

▶$36.5MraisedApr 2025 · 10 investors · Business Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Ned MayDirector
  • Brain CroftsDirector
  • Josh HarmsenDirector
  • Davis BellExecutive Officer, Director
  • Ankit SudDirector
Offering amount
$36.5M
Amount sold
$36.5M
First sale
Apr 2025
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$20MraisedMay 2024 · 18 investors · Business Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Steve LulaDirector
  • Ankit SudDirector
  • Chad PackardDirector
  • Brian CroftsDirector
  • Davis BellExecutive Officer, Director
  • Joshua HarmsenDirector
  • Ned MayDirector
Offering amount
$20M
Amount sold
$20M
First sale
Apr 2024
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$22MraisedAug 2021 · 17 investors · Business Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Ankit SudDirector
  • Chad PackardDirector
  • Stewart GollmerDirector
  • Jordan RayExecutive Officer, Director
  • Davis BellExecutive Officer, Director
  • David YooDirector
  • Brian CroftsDirector
Offering amount
$22M
Amount sold
$22M
First sale
Mar 2021
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$8MraisedFeb 2020 · 11 investors · Business Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Davis BellExecutive Officer, Director
  • David YooDirector
  • Chad PackardDirector
  • Jordan RayExecutive Officer, Director
  • Ankit SudDirector
  • Stewart GollmerDirector
Offering amount
$8M
Amount sold
$8M
First sale
Jan 2020
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$41.7MraisedMay 2018 · 12 investors · Business Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Rodney GilbertDirector
  • Kurt AvarellExecutive Officer, Director, Promoter
  • Stewart GollmerDirector
  • Chad PackardDirector
  • Chetan PuttaguntaDirector
Offering amount
$43.7M
Amount sold
$41.7M
First sale
Mar 2018
Incorporated
Corporation, Delaware, 2014
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$18.6MraisedMar 2017 · 7 investors · Business Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Chetan PuttaguntaDirector
  • Rodney GilbertDirector
  • Chad PackardDirector
  • Kurt AvarellExecutive Officer, Director, Promoter
Offering amount
$19.9M
Amount sold
$18.6M
First sale
Feb 2017
Incorporated
Corporation, Delaware, 2014
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$7MraisedJun 2015 · 2 investors · Business Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Kurt AvarellExecutive Officer, Director, Promoter
  • Chetan PuttaguntaDirector
Offering amount
$8M
Amount sold
$7M
First sale
Jun 2015
Incorporated
Corporation, Delaware, 2014
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$2MraisedJul 2014 · 5 investors · Business Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Kurt AvarellExecutive Officer, Director, Promoter
Offering amount
$2M
Amount sold
$2M
First sale
Jul 2014
Incorporated
Corporation, Delaware, 2014
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Competitors · 6

by search overlap
Canopy94 shared keywordsCanopy provides cloud-based, all-in-one practice management software for accounting firms, combining client management, CRM, document management, workflow, time and billing, engagements, and proposals with AI features. It serves accounting firms, with over 15,000 firms as customers.
Canopy65 shared keywordsCanopy consolidates accounts held across multiple banks, custodians, currencies, and entities into a single reconciled view, with reporting and optional AI analysis. It serves wealth owners, family offices, and wealth managers, offering white-label multi-custodian reporting and daily-reconciled data.
Canopy Connect57 shared keywordsCanopy Connect provides an insurance data intake platform that verifies and monitors insurance information by pulling structured data and documents from carriers, dec pages, and forms. It serves insurance agencies, car dealerships, mortgage and auto lenders, loan servicers, and insurance carriers with coverage across P&C insurers in the U.S.
Canopy Care39 shared keywordsCanopy operates an Intelligent Care Platform for oncology practices, using data-driven software to support continuous care for cancer patients and caregivers. Its tools help care teams improve patient outcomes and experience throughout the cancer journey.
Canopy39 shared keywordsCanopy sells home wellness products such as humidifiers, filtered showerheads, and aroma kits designed for easy use, cleaning, and modern design. The direct-to-consumer brand targets families seeking practical self-care and home upgrades.
Canopy Technology Corp19 shared keywordsCanopy provides an event-driven, immutable lending core that companies use as a system of record or integration layer to build and manage business lending products. It targets business lenders and fintechs launching personalized loan and financing offerings, operating in the fintech and lending infrastructure category.

Companies competing with Canopy Tax for the same Google search keywords, organic and paid, via search-intersection analysis.

In the news

Canopy Raises $35 Million in Funding | The SaaS Newsthesaasnews.com · May 2024Cloud tax practice management startup Canopy raises $11M - SiliconANGLEsiliconangle.com · Jun 2021Lehi Utah based Canopy Tax is raising $19,547,069.00 in New Equity Investment. - intelligence360intelligence360.news · Apr 2021Canopy Tax Raises $20 Million in Series B Funding | CPA Firm Techcpafirmtech.com · Mar 2017

Frequently asked questions

What does Canopy Tax do?
Canopy is a cloud-native, all-in-one practice management platform for U.S. accounting, CPA, tax, and bookkeeping firms, combining client management, documents, billing, workflow, and communication in one login. It offers AI-enhanced modules and an AI agent that automates repetitive tasks, monitors firm activity, and executes workflows within the platform.
Who founded Canopy Tax?
Canopy Tax was founded by Kurt Avarell in 2014.
Who are Canopy Tax's investors?
Canopy Tax's investors include Ankona Capital, Tenaya Capital, New Enterprise Associates (NEA), NewView Capital, Pelion Venture Partners, Pelion Ventures, Ten Coves Capital.
How much funding has Canopy Tax raised?
Canopy Tax has disclosed $155.9M raised across 8 rounds.
Where is Canopy Tax headquartered?
Canopy Tax is headquartered in South Jordan, US.