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This morning, the global venture capital firm GGV Capital announced their inaugural SMBTech 50, the first list to highlight innovative and growing startups that focus on serving small-and-medium-sized businesses (SMBs). We’re excited to share that Neo.Tax made the list and is the only tax startup included!
GGV Capital researched startups on Crunchbase and then nominated the most innovative companies in the SMB ecosystem for their list. They also asked 30 of the top VC firms “which companies are the next Shopify, Intuit, Square, etc?” and added their nominees to the pool. A list of more than 200 SMB Tech companies were compiled and then voted upon by the VC firms. GGV Capital and 30 other venture firms recognized the work we’re doing, which further emboldens us to make tax season a valuable moment for the very companies creating jobs and technology in America.
We set out to build Neo.Tax because we saw an opportunity: a 2015 change to the R&D Tax Credit made startups and SMBs eligible to receive millions of dollars in credits. Yet due to lack of awareness these credits were being left on the table. This was just the start. Today, we’re working hard to simplify tax season by using software to democratize the ability to claim valuable credits to businesses of all sizes. Our goal is to enable innovative SMBs to easily access the money they are owed. We think the time has come to level the playing field between SMBs and Fortune 100s when it comes to tax season.
This year, we closed a $10 million Series A round which will allow us to continue to be an innovating force in the SMB tax space. As Jeff Richards, GGV Capital’s managing partner, explained on Twitter: “SMBs are 40% of US GDP and 60% of Americans work for an SMB.” This is who Neo.Tax was designed for; we’re here to make sure they’re the companies who take advantage of the extended runway they deserve.
To be recognized alongside companies like Gusto, Canva, Calendly, Mercury, Notion, and so many others is a massive honor. We couldn’t be prouder to be a part of this list.