Town Secures $18M to Transform Tax Support for Small Businesses: A Game-Changer Initiative
In a significant move to bolster its tax support services for small businesses, Town has successfully secured $18 million in seed funding. This investment aims to enhance the company’s AI-powered tax automation capabilities and broaden its range of services for entrepreneurs.
Funding Round Details
The recent funding round was spearheaded by First Round Capital, with contributions from several notable investors, including:
- Conviction
- Alt Capital
- Defy
- Depth
- Mischief
- WndrCo
Additionally, prominent angel investors like Adam D’Angelo, Christina Cacioppo, Helen Min, Immad Akhund, Soleio Cuervo, and William Hockey also participated in this funding round.
Enhancing Tax Support for Small Businesses
Small businesses are vital to the economy, contributing to job creation and local innovation. However, they often face challenges within the tax system. Town aims to address these issues by providing a dedicated tax department, similar to those enjoyed by larger corporations.
Key Features of Town’s Services
Town’s platform leverages a combination of human expertise and AI-driven automation to simplify tax compliance and optimize financial strategies. Key features include:
- Dedicated Advisors: Personalized support from tax professionals.
- AI-Powered Automation: Streamlined data collection and deductions.
- Flat-Fee Pricing Model: Predictable costs without the uncertainty of hourly billing.
By directly integrating with clients’ financial systems, Town ensures efficient tax management throughout the year, preventing last-minute stress and maximizing savings.
Recent Developments
Since launching its customer onboarding just two months ago, Town has already helped hundreds of businesses prepare for their FY 2024 taxes. The company has also formed strategic partnerships with various vertical SaaS providers, FinTech platforms, and accounting firms to embed its tax services into platforms where entrepreneurs manage their finances.
For more information on how Town is revolutionizing tax support for small businesses, visit their official website at Town.
