Investment of $38 Million secured in the second round for an AI-driven tax platform
April, a pioneering AI tax platform, has secured $38 million in a Series B funding round, led by QED Investors, with participation from Nyca Partners and Team8. This latest round brings the company's total funding to $78 million [1][2].
Progress and Achievements
April has made significant strides in the tax management industry. The company became the first new entrant in 15 years to gain national e-file approval across all 50 states, enabling them to serve millions of Americans through over 50 partners [1].
Their technology embeds AI-driven tax intelligence into financial applications, allowing users to file, plan, and optimize taxes efficiently. The platform utilizes APIs to ingest data from partner apps, providing accurate tax outcomes in as little as 22 minutes [1].
Future Plans and Growth
With the new funding, April plans to expand its AI-driven tax platform across the U.S. tax ecosystem. The goal is to integrate tax considerations into everyday financial decisions for both individuals and businesses [1].
The company aims to optimize the approximately $2 trillion in annual household tax spend in the U.S. by providing more efficient and personalized tax solutions through financial apps [2].
April is focused on developing innovative, mobile-first tax tech solutions that can be easily embedded into various financial services platforms, including banking, wealth management, and SMB platforms [4].
Adams Conrad, from QED Investors, believes April has the potential to reshape how millions of Americans interact with the tax system [3].
Innovative Solutions
April's technology puts partners at the forefront of clients' tax-related financial decisions. It allows partners to proactively surface opportunities and insights for clients. The platform is considered rare in its ability to power the next generation of fintech and financial services innovation [4].
April's success in helping people achieve net-neutral tax outcomes could have a profound effect on both individuals and the broader economy [5]. Refund deposit rates with April exceed 98%. The median filing time with April's AI infrastructure is reduced to 22 minutes, compared to the IRS average of 13 hours [5].
As April continues to grow and evolve, it is poised to revolutionize the tax management industry, offering a more integrated and user-friendly experience for clients.
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- In the pursuit of expanding its AI-driven tax platform, April, a pioneering AI tax platform, aims to integrate tax considerations into everyday financial decisions for both individuals and businesses, thanks to the $38 million secured in a Series B funding round led by QED Investors, with participation from Nyca Partners and Team8.
- By optimizing the approximately $2 trillion in annual household tax spend in the U.S., April asserts its goal to reshape how millions of Americans interact with the tax system, with their technology embedding AI-driven tax intelligence into financial applications.
