lumatax
LumaTax has raised more funding and inked a key partnership with Square to help small businesses automate their sales tax reporting process.
The Seattle startup announced a new $3 million investment round led by Cowboy Ventures, with participation from Madrona Venture Group, Vulcan Capital, and Greycroft Partners. Total funding in the company is now $5 million.
LumaTax, which spun out of Seattle-based startup studio Pioneer Square Labs last year, takes information from a business and automatically files sales tax returns on their behalf. It audits financial data to ensure companies are staying compliant with tax laws.
LumaTax CEO Robert Schulte told GeekWire that the company prides itself on the idea of a “touch-free tax return.”
“My belief is that if a car can drive itself, a tax return should file itself,” he noted.
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