AI Tax Platform april Secures $38M Series B Funding
AI Tax Platform april Secures $38M Series B Funding

AI Tax Platform april Secures $38M Series B Funding

News summary

April, a New York-based embedded AI tax platform, has secured $38 million in a Series B funding round led by QED Investors, bringing its total funding to $78 million. The company recently became the first new provider in over 15 years to achieve national e-file coverage, and during the 2024 tax season, it was accessible to millions of Americans through more than 50 partners, processing hundreds of thousands of tax returns. April has tripled in size this year due to growing demand for embedded tax solutions within financial institutions and has expanded its offerings beyond self-service to include pro-assisted and pro-led filing options. Its AI-powered infrastructure integrates federal and state filings in a single flow, pre-fills forms with partner data, and reduces median filing time to 22 minutes compared to the IRS average of 13 hours, with refund deposit rates over 98%. The platform also boasts a high Net Promoter Score exceeding 60, reflecting strong user satisfaction. Looking ahead, April is developing advanced tools for paycheck withholding optimization, quarterly payments, and complex tax scenarios such as capital gains, retirement planning, and small business ownership to further embed tax planning into financial apps and improve economic outcomes for users.

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