CypherTax

CypherTax

Closed: Sep. 2023

About this raise

CypherTax, with a valuation of $27 million, is raising funds on Equifund. The company is a tax management software firm aiming to significantly reduce taxpayer compliance burdens through its AI-powered platform. CypherTax's platform automates the reverse auditing and appeals process, potentially reducing the time down to 1-2 days and providing detailed reverse audit reports. With a potential sales pipeline of $20 million, the company is seeking $5 million to start scaling up and prepare for a potential IPO. Parent company Cypher Group Holdings was founded in 2015. The current crowdfunding campaign has a minimum funding goal of $19,999 and a maximum target of $4.99 million. The company intends to use the net proceeds of this offering on software engineering, artificial intelligence platform, marketing, and for other general corporate purposes.

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Investment Overview

Invested this round: $5,000,000

Deal Terms

Total Commitments

Platform
Equifund
Start Date
09/12/2023
Close Date
09/22/2023
Min. Goal
$20,000
Max Goal
$5,000,000
Min. Investment

$500

Security Type

Equity - Common

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.37

Pre-Money Valuation

$27,000,000

Company & Team

Company

Year Founded
2015
Industry
Financial & Insurance Products & Services
Tech Sector
Distribution Model
B2B
Margin
Capital Intensity
Location
Jenkintown, Pennsylvania
Company Website
Visit Website

Team

Employees
9

Financials

 Revenue
$0
as of FY2022
 Cash on Hand
$9,905
as of FY2022
 Gross Margin
20%
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$478,299

$254,406

COGS

$383,256

$234,655

Tax

$0

$0

 

 

Net Income

$6,459

$20,702

Summary Balance Sheet

FY 2022 FY 2021

Cash

$9,905

$3,446

Accounts Receivable

$0

$0

Total Assets

$9,905

$3,446

Short-Term Debt

$21,837

$21,837

Long-Term Debt

$676,128

$676,128

Total Liabilities

$697,965

$697,965

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
09/22/2023 Equifund $27,000,000 $5,000,000 Equity - Common Funded RegCF
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Add to portfolio
CypherTax on Equifund 2023
Platform: Equifund
Security Type: Equity - Common
Valuation: $27,000,000
Price per Share: $0.37

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Warning: according to the close date for this deal, CypherTax may no longer be accepting investments.

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