CypherTax
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.
Investment Overview
Invested : $5,000,000
Deal Terms
Total Commitments
- Platform
- Equifund
- Start Date
- 09/12/2023
- Close Date
- 09/22/2023
$20,000
$5,000,000
$500
Equity - Common
Early Stage
RegCF
$0.37
$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
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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 |