K1x, a Princeton, NJ-based provider of automated solutions for aggregation and packet production for the Schedule K-1 federal tax form and end-to-end tax return solutions for tax-exempt organizations, raised $15m in funding.
Edison Partners made the investment. As part of the transaction, Jennifer Lee, partner at Edison Partners, will join K1x’s board of directors.
The company intends to use the funds:
- to scale its commercial operations, customer success and product roadmap,
- to accelerate its machine-learning technology into more industry segments,
- to grow in sectors that provide more solutions to its clients,
- to support its channel partners with a complementary product portfolio, increased marketing and sales support and tailored customer success to increase their value proposition.
Led by John LaMancuso, CEO, K1x provides C-TRAC, its founding product, an end-to-end software solution for tax-exempt organizations. It was followed by The K1x Advantage Suite, a modular software solution that digitally connects producers and recipients for faster delivery, more accurate information and streamlined reporting. K1x technologies are now used by the largest institutional investors, funds and accounting firms in the U.S.
FinSMEs
15/12/2022