Financing of April to the tune of $30M in Series A aims at integrating tax calculations into every financial choice made.
AI Tax Platform April Secures $38 Million in Series B Funding
The AI tax platform, April, has raised $38 million in a Series B funding round, bringing its total funding to $78 million since its founding in 2021. The round was led by QED Investors, with Nyca Partners and Team8 participating.
April's technology is designed to incorporate tax planning and filing into the broader offering of financial platforms. The platform is built to integrate directly into financial apps via white-labeled, API-first tools, providing real-time tax intelligence for filing, planning, and onboarding.
One of the key features of April is the ability to handle complex tax scenarios. It offers self-service, professional-assisted, and professional-led tax filing options embedded within partners’ platforms. The platform processes hundreds of thousands of tax returns through more than 50 partner financial institutions.
The integration of April's technology into leading financial applications is expected to bring significant economic benefits to taxpayers and partners. The platform reduces the median tax filing time to just 22 minutes, compared to the IRS average of 13 hours. This efficiency gain is reflected in April's exceptional user satisfaction, with a Net Promoter Score (NPS) over 60 and refund deposit rates above 98%.
April made a major milestone in early 2025 by becoming the first new company in over 15 years to gain national e-file coverage. This achievement places April in an exclusive group of about ten companies.
The funds from the Series B round will be used to continue the development of tax planning tools for more complex financial scenarios, such as capital gains, retirement planning, and small business ownership. April also plans to launch paycheck withholding optimization and quarterly payment management tools to enhance proactive tax management. The goal is to expand embedment across more financial platforms throughout the U.S., transforming tax from an annual event into an always-on layer of financial intelligence.
The business has tripled in size year to date, reflecting the demand for embedded tax within financial institutions. April's AI-powered tax infrastructure integrates federal and state filing into a single flow. The economic benefits of April's technology extend beyond individuals, impacting the broader economy. During the 2024 tax season, April was available to millions of Americans through over 50 partners.
Raj Doshi, April's President and COO, stated that April's technology enables partners to deliver holistic solutions by including tax planning and filing. Adams Conrad, who led the round from QED Investors, noted that April has demonstrated strong execution in a historically complex space. April's technology is seen as a new frontier for financial applications, with potential to reshape how millions of Americans interact with the tax system.
[1] April Raises $38 Million in Series B Funding
[2] April Achieves National e-File Coverage
[3] Carry Integrates April for Comprehensive Tax Services
[4] Gusto Boosts Take-Home Pay with April Integration
[1] The Series B funding, $38 million raised by April, will be utilized to enhance April's tax planning tools, addressing complex financial scenarios such as capital gains, retirement planning, and small business ownership.
[2] Integration of April's technology into leading financial applications, as demonstrated by April becoming the first new company in over 15 years to gain national e-file coverage, is expected to bring significant economic benefits to both taxpayers and partners by transforming tax from an annual event into an always-on layer of financial intelligence.
