Black Ore, an AI platform intended to simplify the tax processes using AI technology, exited stealth with $60m in funding led by a16z and Oak HC/FT.
In brief:
- According to the company, it plans to use the funds to grow its product and team across the financial services sector.
-As part of the launch announcement, Black Ore unveiled its flagship product, Tax Autopilot, which uses proprietary AI technology with federal and state tax codes to assist in the tax preparation and review process, according to the company.
-General Catalyst, Founders Fund, Khosla Ventures, Trust Ventures, LionBird, SciFiVC, SV Angel, and other notable tech executives contributed to the funding round.
What does this mean?
“For the last two years, we’ve been working with tax and accounting firms of all sizes to build an intelligent solution to arm accountants with the technology needed to alleviate resource constraints, scale services and create more value for clients,” Eyal Shinar, co-Founder and chief executive, Black Ore, said.
