IRS crypto tax partner ZenLedger raises $15 million Series B – TechCrunch

Since its founding in 2017, ZenLedger has managed to secure four contracts with the U.S. government worth just over $500,000, none of which are expected to expire, The New York Times reported. While $500,000 seems like a paltry sum for a federal agency, the contracts are significant in the small, hypercompetitive world of crypto tax prep startups. A mix of old and new investors also participated, including King River Capital, G1 Ventures, Main Street Investment, Three Point Capital, Shorooq Partners, VaynerFund, Blizzard the Avalanche Fund and AngelList Quant Fund, the company says.We are moving ahead with more government contracting, which is interesting, because, basically, what we do is we build a plan for crypto. It also turns out to be very useful for accounting firms.ZenLedgers historical focus on individual tax filers rather than enterprise contracts differentiates it in some ways from competitors like TaxBit too, Larsen said. While Larsen didnt share details on how much ZenLedger makes in revenue, he said that its revenue has grown 5x from last year.The company announced it had hired multiple C-suite executives in April, including a CTO and CFO.The latest funding comes about a month after ZenLedger landed in the spotlight because its former COO, Dan Hannum, was found by The New York Times to have misrepresented his educational and work credentials to the company itself, investors and the general public.