Taxbit Private
also invests · investor profileSalt Lake City, US · Founded 2018 · Delaware corporation · 17 known investors
Taxbit provides digital asset solutions related to tax and accounting for enterprise customers.
Also known as TaxBit · TaxBit Inc.
Founders & leadership
Taxbit Private was founded in 2018 by Austin Woodward and Justin Woodward.
Investors · 17
Reported raises · per SEC filings
Form D private placements$16.4M disclosed across 2 rounds · 2018–2023
▶$15.6MraisedJan 2023 · 45 investors · Other TechnologyRule 506(b)
- AUSTIN WOODWARDExecutive Officer, Director
- MATT HUANGDirector
- JUSTIN WOODWARDDirector
- TOM LOVERRODirector
- Offering amount
- $15.6M
- Amount sold
- $15.6M
- First sale
- Jan 2023
- Incorporated
- Corporation, Delaware, 2018
- Federal exemptions
- 06b
▶$750KraisedJan 2019 · 1 investors · Other TechnologyRule 506(b)
- Austin WoodwardExecutive Officer, Director
- Offering amount
- $1M
- Amount sold
- $750K
- First sale
- Dec 2018
- Incorporated
- Corporation, Delaware, 2018
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026TaxBit provides tax and regulatory compliance infrastructure for digital assets. Its platform ingests raw transaction data and automates validation, reconciliation, generation of required tax forms, and regulatory filings, marketing coverage of 70+ jurisdictions for reporting and multi-jurisdiction support across 140+ countries and regimes. The company positions two principal product lines: Enterprise Tax Solutions, which automate ingestion of customer and transaction data and produce tax forms at scale, and Government Solutions, which give agencies visibility into digital asset activity by analyzing on- and off-chain crypto and fiat flows, supporting investigations, compliance assessment, and management of government-held assets with audit-ready outputs.
The platform emphasizes real-time, role-based and legal-entity-based access, API-based data ingestion, independent SOC audits and control frameworks, and an AI product line ("Taxbit AI") layered on its compliance workflows. The company states its products were built by CPAs and tax attorneys. Following the January 2023 acquisition of Tactic, TaxBit extended its corporate accounting suite to cover crypto accounting for institutional customers, with the stated aim of shortening book-close cycles from months to days.
TaxBit no longer serves individual cryptocurrency investors; its consumer crypto tax reporting product was announced for shutdown on September 29, 2023 and closed on October 31, 2023, with users required to export their data and move to alternative providers.
Business model
TaxBit sells compliance software to organizations rather than individuals: enterprises (including Fortune 500 companies and digital asset platforms) license its information reporting and tax/accounting technology, and government agencies use its analytics and asset-management tooling. Its consumer crypto tax product, which served individual investors, was discontinued as of October 31, 2023, leaving the business focused on enterprise and government customers. Product scope has been expanded partly through acquisition, notably the 2023 purchase of accounting startup Tactic, whose technology was folded into TaxBit's corporate accounting suite and opened a small- and medium-business segment.
Sources do not state pricing or contract structure; the company sells software solutions to enterprise and government customers.
Traction
The company reports 100M+ tax forms generated for end-users and $500B+ in reconciled digital asset transactions, and cites customers including PayPal and Zero Hash. It had raised over $235 million as of January 2023.
Latest developments
The most recent dated developments in the available sources are the January 2023 acquisition of Tactic and the September 2023 announcement that the consumer crypto tax reporting product would close on October 31, 2023. The current company website presents enterprise and government compliance products plus a "Taxbit AI" offering, and cites 100M+ forms generated for end-users and $500B+ in reconciled digital asset transactions.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Positioned as a compliance infrastructure provider for the digital asset economy serving large enterprises, including Fortune 500 companies, and government agencies. Named customers referenced on its site include PayPal and Zero Hash. Its exit from the consumer market left individual crypto investors to competing tax tools such as CoinLedger.
TaxBit's stated differentiators are enterprise-grade scale and adoption by Fortune 500 companies and regulators, breadth of jurisdictional coverage (70+ jurisdictions for reporting, 140+ countries and regimes), end-to-end automation from data ingestion through validation to reporting, real-time API-based data loading (cited by PayPal as a capability it could not find elsewhere), products designed by CPAs and tax attorneys, and independent SOC audits with formal control frameworks.
Technology
Automated pipeline from transaction data ingestion through validation to tax form generation and regulatory filing, with real-time API-based data loading, on- and off-chain crypto and fiat flow analysis, role-based and legal-entity-based access controls, audit-ready outputs, SOC-audited security controls, and an AI-assisted compliance product (Taxbit AI).
Go-to-market
Direct enterprise and government sales, supported by published customer case studies (for example Zero Hash and PayPal) and API-based integration into customer transaction systems. After the Tactic acquisition, TaxBit said it would begin selling to Tactic's small- and medium-business market immediately, then roll out features for larger companies on a path to going public over the following two quarters.
Enterprises and financial/crypto platforms (including Fortune 500 companies), government agencies and regulators, and — following the Tactic acquisition — small and medium businesses needing crypto accounting. Individual crypto investors are no longer served.
Geography
Headquartered in Salt Lake City, with dual headquarters in Seattle and Salt Lake City as of January 2023. The platform supports tax reporting across 70+ jurisdictions and 140+ countries and regimes.
History
The company was founded in 2018, a period the CEO described as an existentially difficult time for the crypto industry. By early 2023 it operated dual headquarters in Seattle and Salt Lake City and had raised over $235 million. In December 2022, amid a downturn in crypto markets that hurt some of its customers, TaxBit laid off 15% of its workforce without disclosing headcount details. In January 2023 it announced the acquisition of Tactic to expand crypto accounting services. On September 29, 2023 it announced the shutdown of its consumer crypto tax reporting product effective October 31, 2023, redirecting the business toward enterprise and government compliance.
Risks & controversies
TaxBit reduced headcount by 15% in December 2022 amid a crypto market downturn in which some customers experienced slower growth or bankruptcy. It subsequently discontinued its consumer crypto tax reporting product in October 2023, stranding individual users who had to export their data and migrate to other providers. The business is concentrated in digital asset markets, exposing it to crypto market cycles and to changes in tax and reporting regulation.
Compiled by commissioned research from 3 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Competitors · 7
by search overlap
Companies competing with Taxbit Private for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 3
launches, deals, and filingsOn September 29, 2023, TaxBit announced it would shut down its consumer-facing crypto tax reporting product as of October 31, 2023, ending service to individual cryptocurrency investors; affected users were directed to export transaction data and migrate to alternative providers.
TaxBit announced the acquisition of software startup Tactic to expand its crypto accounting services, folding Tactic's accounting technology into TaxBit's existing corporate accounting suite (CAS). CEO Austin Woodward said the company would begin selling to Tactic's target market of small and medium businesses immediately, with features for larger, pre-IPO companies planned over the following two quarters.
TaxBit laid off 15% of its staff in December 2022 without disclosing how many employees were affected or remained, as reported by the Puget Sound Business Journal; some TaxBit customers faced slower growth or bankruptcy amid the crypto market downturn.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structureIn the news
▸Research sources · 3
primary sources listed
- Taxbit Privatetaxbit.com · web
3 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Taxbit Private do?
- TaxBit builds digital asset tax and regulatory compliance software for enterprises and government agencies.
- Who founded Taxbit Private?
- Taxbit Private was founded by Austin Woodward, Justin Woodward in 2018.
- Who are Taxbit Private's investors?
- Taxbit Private's investors include 1/1 Capital, Album VC, Angel Collective Opportunity Fund, Collab+Currency, Collaborative Fund, Haun Ventures, Insight Partners, IVP (Institutional Venture Partners) and 9 more.
- How much funding has Taxbit Private raised?
- Taxbit Private has disclosed $16.4M raised across 2 rounds.
- Where is Taxbit Private headquartered?
- Taxbit Private is headquartered in Salt Lake City, US.