Canopy, a Draper, UT-based cloud-based practice management platform for accounting professionals, raised $35 million in Series BB funding.
The round was led by Ten Coves Capital, along with significant investments from current investors NewView Capital, Pelion Partners, Tenaya Capital, and Ankona Capital.
This new funding will be used to further accelerate Canopy’s mission to become the default operating system for accounting firms.
Company: Canopy Tax, Inc
Raised: $35.0M
Round: Series BB
Funding Month: December 2021
Lead Investors: Ten Coves Capital
Additional Investors: NewView Capital, Pelion Partners, Tenaya Capital, and Ankona Capital
Company Website: https://www.getcanopy.com/
Software Category: cloud-based practice management platform
About the Company: Led by Davis Bell, CEO, Canopy is a cloud-based practice management platform that introduces online client surveys for auto-population of IRS forms and more. Canopy is an accounting practice management software that simplifies your firm so you can help more clients. Canopy’s Practice Management lets you connect every element of your practice with features ranging from CRM to task automation. Canopy provides a cloud-based practice management software suite designed to increase efficiency and boost revenue for accounting firms. It offers tools for client management, document management, workflow, and time & billing, as well as specialty compliance solutions that help accountants obtain IRS transcripts and resolve notices quickly.
Source: https://www.cpapracticeadvisor.com/tax-compliance/news/21249264/canopy-receives-35-million-in-funding