Utah-based crypto tax software startup TaxBit opening second HQ in Seattle

TaxBit co-founders Justin (left) and Austin Woodward (right). (TaxBit Photo)

TaxBit, a Utah-based cryptocurrency tax and accounting firm, is opening a second headquarters in Seattle.

The company was founded in the Salt Lake City area, but co-founders and brothers Austin and Justin Woodward were born in Seattle. The office will be in the South Lake Union area, near Amazon’s headquarters.

TaxBit is the latest tech company to open additional offices in the Seattle region. In some ways it follows in the footsteps of tech giant Qualtrics, which was also started in Utah but opened a co-headquarters in Seattle.

TaxBit CEO Austin Woodward said being back in Seattle was a “surreal” experience. He said the city was a fast-growing tech hub and a great place to draw talent.

“We’re building a category leader and are committed to attracting the best talent in order to delight our customers and to build a generational company,” he said.

Founded in 2018, TaxBit helps consumers, enterprises and governments report their cryptocurrency tax reporting and accounting.

Earlier this year, the company announced $100 million in a Series A funding round and a partnership with the IRS. To date, the company has raised $105 million.

The news comes as more companies are exploring hybrid work environments in a post-vaccine world. TaxBit is using a hybrid approach, which Woodward said creates “a more balanced and supportive environment.”

TaxBit currently employs 75 people, with six based in Seattle. It hopes to have 40 people in Seattle by the end of the year.

TaxBit also appointed four people to its leadership team with the expansion to Seattle:

  • Zac Corker, vice president of growth: Corker is joining TaxBit after leading strategy for Business Applications at Microsoft.
  • Erin Fennimore, global head of information reporting solutions. Before joining TaxBit, Fennimore worked at Moss Adams, focusing on private equity and venture capital sector.
  • Simon Frey, vice president of customer operations. Frey was head of services at Qualtrics before joining TaxBit.
  • Clark Roberts, senior director of engineering. Before joining TaxBit, Roberts was Curalate, where he led engineering teams and the product development.
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Startups Austin woodward Taxbit