A substantial $122 million Series D funding secured for the GenAI endeavor, dedicated to tax research development.
Blue J, a leading generative AI tax research platform, has secured a significant $122 million Series D funding round. The funding round was co-led by Oak HC/FT and Sapphire Ventures, with participation from Intrepid Growth Partners, Ten Coves Capital, and CPA.com.
The funding will be primarily used to expand the team, accelerate product development, and scale market reach. Blue J aims to become the new standard for AI-driven tax research as global tax complexity continues to rise.
"We're excited about the investment and the plans for the future," said Benjamin Alarie, CEO and co-founder of Blue J. "We believe Blue J will become the new standard for complex tax questions."
Sapphire Ventures' Partner, Cathy Gao, will join Blue J's board as a result of the funding round. Gao expressed her excitement about continuing to work with Blue J at the forefront of innovation.
"Blue J reduces research that once took hours to just minutes," said Allen Miller, Partner at Oak HC/FT.
The platform's intuitive, conversational interface enables users to ask questions without needing specific legal keywords. Blue J's solution is trusted by enterprise clients, embraced by top firms, and loved by many practitioners. It provides instant, source-cited answers to complex U.S., Canadian, and U.K. tax questions, improving value for tax professionals who rely on the technology.
In the first half of this year, Blue J more than doubled its revenue and customer base, now serving tens of thousands of tax professionals. The company plans to leverage this capital to innovate further, extend its product capabilities, and increase adoption in legal and fintech sectors.
Blue J leverages OpenAI's latest models in its tax research platform. However, Marc Manara, Head of Startups at OpenAI, was not mentioned as contributing any specific facts or insights in this paragraph.
The investment endorse Blue J’s vision to transform tax research using advanced generative AI. The quotes emphasize the company's vision to transform tax research and deliver greater value to tax professionals.
With this funding, Blue J is poised to expand its team, accelerate product development, and solidify its leadership position globally in the field of AI-driven tax research.
With theSeries D funding of $122 million, Blue J aims to innovate further in finances and investing by expanding its team, accelerating product development, and increasing market reach. The platform's integration of technology and artificial-intelligence is expected to establish Blue J as the new standard for AI-driven tax research, particularly in the legal and fintech sectors.
