Already classified as a unicorn startup, United states-based cryptocurrency tax software developer TaxBit at present has a valuation of more than $i.3 billion afterward a recent funding round.

According to a Th announcement, IVP and Insight Partners led a $130 Serial B funding round for TaxBit with participation from Bitcoin bull Anthony "Pomp" Pompliano, Tiger Global, Epitome, 9Yards Uppercase, Sapphire Ventures and Madrona Venture Group. The company said it planned to apply the funds — which bring its valuation to $i.33 billion — to calibration its revenue enhancement and bookkeeping offerings organization as well as open new offices in the United States and the United Kingdom.

The investment comes v months after the visitor raised $100 million in a Serial A round, which it said would exist used to fund its expansion into the Uk. This year, TaxBit launched an office in Seattle and plans to provide crypto-related data analysis and tax calculation support for taxpayers through the Internal Revenue Service, or IRS.

TaxBit CEO Austin Woodward spoke on Pomp'southward YouTube channel today, saying that the company had anticipated additional crypto tax reporting requirements from the U.South. authorities, such every bit those in the $1.two trillion bill that passed the U.South. Senate this week. According to Woodward, crypto taxes were "the number i topic debated and discussed," as several U.South. senators proposed amendments modifying the language regarding crypto brokers in the beak.

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Launched in 2022, TaxBit is designed to automate aspects of crypto tax compliance for enterprises, consumers and governments. The company achieved unicorn status this year — a valuation of at to the lowest degree $1 billion — and has partnered with many firms handling digital assets, including major crypto substitution Gemini.

"We are living in a time where everything is going digital, including traditional assets," said Woodward. "As we've congenital and deployed modern tax and accounting software tailored to digital assets, it's become clear that legacy tax information reporting solutions are built on antiquated technology that provides a poor client experience."