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TaxCalc, a provider of tax and accounts compliance and practice management software, has received a “significant” investment from the STG Allegro fund that will see it boost growth and enhance its offering to customers.
The company said it intends to use the funding to enhance its product offering, invest in customer success, and introduce new offerings to “deliver value for its growing accounting firm customers as these firms migrate away from legacy and under-invested tax compliance and practice management software solutions”.
Founded in 2004 by Tracy Ebdon-Poole, TaxCalc has become one of the most trusted brands in the UK tax and accounting software sector.
Under Ebdon-Poole’s leadership, the group has grown from a team of five to over 110 employees, and over 11,000 accounting firm customers.
In recent years, it has expanded its capabilities to address a growing customer base through market-leading products such as WorkFlow, Communications Centre, AML Centre, FRS 102 MLA, and Group Accounts, all available via the unique CloudConnect service.
The company has achieved significant success, often winning major industry accolades, including AccountingWEB’s Software Excellence Awards and the Institute of Certified Bookkeepers LUCA Awards.
Ebdon-Pool said: “Our mission at TaxCalc is to provide cutting-edge, reliable, and trusted tax compliance and accountancy software that is intuitive and delivers exceptional value. I am thrilled that TaxCalc will be partnering with STG to continue to support our customers in this mission.
“STG has a strong track record of growing software companies with their focus on customer-driven product innovation, customer service, and strategic transformation. After a very careful selection process, STG’s track record of partnering with and growing industry-leading software businesses, with a focus on customer centricity, stood out to us. We are excited to welcome STG as an investor in TaxCalc.”
Umang Kajaria, managing director, co-lead of STG Allegro, added: “The pace of innovation coming out of TaxCalc reflects their commitment to their customers, as well as their ability to understand the needs of the accounting firms. We have been impressed by TaxCalc’s focus on providing high quality, reliable software at great value.
“We look forward to partnering with the TaxCalc management team to continue delivering best-in-class software, product innovation and support to their highly valued accounting firm customers.”
