CypherTax
Early Stage
Elevating Transaction Tax Accuracy
Overview
Raised: $5,000,000
Total Commitments ($USD)
Platform
Equifund CFP
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
SEC Filing Type
RegCF
Price Per Share
$0.37
Pre-Money Valuation
$27,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
09/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$277,778
Momentum
Funded
Create a free account today to gain access to KingsCrowd analytics.
Year Founded
2015
Industry
Tech Sector
Location
Jenkintown, Pennsylvania
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.
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 |
Financials as of: 09/12/2023
Create a free account today to gain access to KingsCrowd analytics.
Upgrade to gain access
Pay Monthly
Annually (Save 17%)
-
$25 /month
billed annually - Free portfolio tracking, data-driven ratings, AI analysis and reports
- Plan Includes:
- Everything in Free, plus
- Company specific
KingsCrowd ratings and analyst reports
- Deal explorer and side-by-side comparison
- Startup exit and failure tracking
- Startup market filters and historical industry data
- Advanced company search ( with ratings)
- Get Edge Annual
Edge
Already a member? Log in here.
Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.