Finding fresh funding for Startups…and TaxTaker
The current turbulent economic environment has made it increasingly more difficult for qualified early-stage startups to receive venture financing, hence, hindering their ability to survive and scale. With the economy still uncertain and funding trending towards larger deals, it’s tough times to raise and Startups need any lifeline they can get.
Unbeknownst to most, there are non-dilutive opportunities available that can be that lifesaving buoy of hope. And that’s what TaxTaker is on a mission to help solve. TaxTaker helps Startups fund their growth efforts with an automated way to prepare R&D tax credit studies.
Over 80% of startups are unaware of the #1 non-dilutive government funded program available for their business: The Research & Development Tax Credit, which can inject working capital every year a company develops or improves their products or technologies.
Ultimately, runway is extended and a competitive advantage is created through this alternative securing of capital. And it’s no small potatoes- the IRS anticipates distributing $148 billion dollars to eligible applicants between 2020–2026 alone, ranking the credit one of largest business tax programs in the budget. Better yet, there is active bipartisan support to increase and strengthen the program to provide more money and higher limits to Startups going forward.
By facilitating the process of qualifying, applying, and receiving R&D Tax Credits through our platform, we proudly have a 100% success-rate for capturing funding for our Startup clients. We also pair with our clients existing accounting and payroll providers to ensure they get the funding they need every year, so there is never a worry about leaving dollars on the table.
The pandemic has been a big catalyst for business owners paying attention to government relief programs, and we have experienced a surge of new clients during this time since we make it easy to quickly get the dollars Startups are entitled to.
Since launching a year ago, we have proudly secured over $3.5M in R&D funding back into our clients pockets…and we’re only just beginning!
With our recent growth surge and our clients needing our support more than ever, we have an exciting announcement…
TaxTaker recently closed its seed round, which was led by Houston’s Golden Section Technology Ventures with participation from Austin’s own Old Three Hundred Capital. The eyes of Texas are certainly upon us! The use of proceeds will be used to expand our reach to help more tech startups capture R&D tax credits nationwide.
With the close of this round, we are better positioned to bring this massive funding program to eligible Startups’ attention nationwide, and are thrilled to begin this new chapter with the support of our strategic partners. Capital Factory is also a stakeholder and has championed our accelerator initiative to ensure portfolio companies are aware of this critically important resource.
With our exciting announcement our ask remains the same: If you founded a startup, are part of a startup, invest in startups, work with startups, or just know a startup, we want to meet and help you!
Money is on the table, Startups. Come and take it!
