How Much Did Keeper Raise? Funding & Key Investors

Keeper has successfully raised funds through a Series A round, with the last funding round closing on April 29, 2021. The company is backed by 14 investors, including notable names like Jeff Seibert and Foundation Capital.

Keep reading to explore the intricacies of Keeper's fundraising journey and the investors backing this innovative tax preparation platform.

What Is Keeper?

Keeper, founded on January 1, 2019, by David Kang and Paul Koullick, is an AI-based tax preparation software company. It operates in the accounting, apps, financial services, fintech, and personal finance industries. The company is headquartered in San Francisco, California, and employs between 11-50 people.

Keeper's software is designed to uncover hidden tax breaks, allowing users to connect a financial account and quickly identify potential deductions. The company offers a range of services, including tax filing for various scenarios, calculators, and educational resources, all backed by tax professionals and AI technology.

How Much Funding Has Keeper Raised?

1. Pre-Seed Round
   • Amount Raised: $150K
   • Date: January 2019
   • Lead Investors: Y Combinator
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the development of their AI-based tax preparation software.
2. Seed Round
   • Amount Raised: $1.6M
   • Date: April 2019
   • Lead Investors: Matrix
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop the software and expand the team.
3. Seed Round
   • Amount Raised: $1M
   • Date: February 2020
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance AI capabilities and support more types of 1099 job roles.
4. Series A
   • Amount Raised: $13M
   • Date: April 2021
   • Lead Investors: e.ventures, Matrix Partners, Foundation Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To build a complete tax platform, expand the team, and grow the user base.

Total Amount Raised: $15.75M. Current Valuation: Not publicly disclosed.

Key Investors

• Jeff Seibert
  • Details: Jeff Seibert is the CEO of Digits and co-founder of Crashlytics. He is known for his involvement in various tech startups.
  • Investment Focus Areas: Technology startups, software, AI.
  • Notable Investments: Specific companies are not listed.
• Foundation Capital
  • Details: Foundation Capital is a venture capital firm that invests in early-stage companies. They have a broad portfolio across various sectors.
  • Investment Focus Areas: Technology, financial services, consumer products.
  • Notable Investments: Netflix, LendingClub, Sunrun.
• e.ventures
  • Details: e.ventures is a global venture capital firm that focuses on early-stage and growth-stage technology companies. Mathias Schilling from e.ventures will join Keeper Tax's board of directors.
  • Investment Focus Areas: Technology, early-stage, growth-stage.
  • Notable Investments: Groupon, Sonos, NGINX.
• Matrix Partners
  • Details: Matrix Partners is a venture capital firm that invests in early-stage companies. Jake Jolis from Matrix Partners will join Keeper Tax's board of directors.
  • Investment Focus Areas: Technology, software, communications.
  • Notable Investments: HubSpot, Zendesk, Oculus.
• Jack Altman
  • Details: Jack Altman is the CEO and co-founder of Lattice, a performance management software company. He is an individual investor in Keeper.
  • Investment Focus Areas: SaaS, enterprise software, HR technology.
  • Notable Investments: Specific companies are not listed.

What's Next for Keeper?

Keeper is poised to capitalize on the growing gig economy, which includes millions of freelancers, creators, and gig workers. With the recent $13 million Series A funding, the company plans to expand its team and enhance its AI capabilities, aiming to build a comprehensive tax platform that simplifies tax filing for 1099 workers. This expansion presents a significant opportunity to capture a larger market share both domestically and internationally.

Future fundraising opportunities seem promising, given the successful Series A round and the involvement of high-profile investors. As Keeper continues to grow its user base and enhance its services, additional funding rounds could be on the horizon to support further expansion and technological advancements.

However, Keeper may face challenges such as competition from other tax filing software and the need to keep up with rapidly changing tax regulations. Ensuring data security and maintaining the accuracy of AI-driven tax advice will also be critical as the company scales. Despite these challenges, the potential for growth and innovation in the gig economy remains substantial.

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