LumaTax provides software to automate sales tax reporting and help firms manage tax compliance. The 4-year-old startup spun out of Seattle’s Pioneer Square Labs and is led by CEO Robert Schulte, a former senior tax auditor for the State of California. Initially focused on small businesses, the company has over the past year landed dozens of top CPA firms as customers. LumaTax is a 14-person team that sells its product to CPA firms who use it to advise their clients on compliance. The company raised new funding to support this customer expansion and product efforts. The article does not disclose revenue or specific financing instrument types beyond the new funding amount. LumaTax builds software that streamlines sales tax compliance for small business owners by integrating with tools they already use. Its subscription offers automated audit analysis and nationwide Touch-free Tax Return filing. The product integrates with Square via the Square App Marketplace and is also available in the QuickBooks App Store. LumaTax aims to automate sales tax reporting for both brick-and-mortar and online merchants to reduce time and compliance burden. The company said the recent financing will expand Touch-free Tax Returns to small business merchants in new markets that collect sales tax. LumaTax is backed by Madrona Venture Group, Cowboy Ventures, Greycroft Partners, and Vulcan Capital. LumaTax is building a comprehensive sales tax solution for small businesses, launching first for California's nearly four million small businesses. It offers a free mobile exemption-certificate application and an affordable online service for filing and paying sales tax, with products available for both small businesses and accountants. The mobile app, available on the Apple App Store and Google Play, enables businesses to issue verified tax exemption certificates from their phones. Later this quarter LumaTax will introduce a cloud service to complete and file California sales tax returns, streamlining a nine-page return and 15 pages of instructions into a short online experience. LumaTax is the first spin-out of Pioneer Square Labs in Seattle and was founded and is led by CEO Robert Schulte, who previously founded Taxcient (acquired in 2010) and served as a senior sales tax auditor for California. The company announced $2 million in financing to build out the product and expand its offerings.

Total raised

$9M

Funding rounds

3

Latest round

Equity

Latest activity

May 2021