Blue J Secures Collection C Funding from Ten Coves to Revolutionize AI-Powered Tax Analysis

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Development capital will improve product capabilities and speed up geographic growth, positioning Blue J because the trusted accomplice for tax professionals globally

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TORONTO — Blue J, a number one supplier of generative AI-powered tax analysis to accounting and tax professionals, introduced its Collection C funding spherical led by Ten Coves Capital, a development fairness agency specializing in monetary know-how. The funding will speed up Blue J’s mission to remodel tax analysis by delivering instantaneous, dependable solutions that mix superior AI know-how with authoritative content material from main sources together with Tax Notes, a extensively revered publication of tax information, evaluation, analysis and reference instruments.

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“In at present’s advanced tax setting, professionals face mounting stress to ship correct steering with unprecedented pace,” stated Benjamin Alarie, CEO of Blue J. “By combining superior AI with trusted tax content material, we’re remodeling hours of handbook analysis into minutes of centered evaluation. This partnership with Ten Coves will assist us deliver these capabilities to tax professionals worldwide, guaranteeing they’ll work with better confidence and readability.”

Blue J’s modern platform stands aside via its distinctive integration of AI know-how with complete tax content material, together with Tax Notes, laws, case legislation, administrative rulings, and skilled commentary. Not like conventional analysis instruments that require tedious handbook navigation of a number of sources, Blue J’s conversational interface immediately synthesizes advanced info streams into clear, actionable insights that mirror the most recent developments in tax legislation. This empowers customers to not solely conduct analysis extra successfully, but additionally to leverage the platform’s capabilities for drafting memos, composing emails, and way more.

Following the launch of the most recent model of Blue J’s tax analysis platform in August 2023, the corporate has amassed a couple of thousand purchasers, together with Large 4 accounting organizations, high 100 US CPA companies, and Fortune 100 corporations. Utilization metrics proceed to develop in tandem – by the top of November 2024, Blue J was answering greater than 100,000 tax analysis questions from customers within the earlier 30 days.

“We’ve had the privilege to get to know Ben and the crew at Blue J for years, and we’re thrilled to embark on this subsequent chapter of our work with corporations promoting to and thru accounting companies, together with Invoice, Cover and MarginEdge,” stated Dan Kittredge, Managing Associate at Ten Coves Capital, who will be part of Blue J’s Board of Administrators. “The platform supplies vital workflow and productiveness efficiencies for all sorts of finish customers. Because the trade continues to demand higher AI product capabilities, Blue J is properly positioned to be the popular accomplice and main innovator.”

The Collection C funding will speed up Blue J’s international growth whereas enhancing its AI capabilities to help tax professionals worldwide. As tax and regulatory complexity continues to extend, Blue J’s platform affords important instruments that enhance accuracy and effectivity for authorized, accounting, company, and authorities organizations.

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About Blue J

Blue J is remodeling tax analysis by combining superior AI with authoritative tax content material to ship higher tax solutions immediately. The corporate’s intuitive platform seamlessly integrates trusted sources together with Tax Notes with laws, case legislation, and skilled commentary, serving to professionals navigate the ever-changing tax panorama with confidence. Main organizations belief Blue J to streamline their analysis workflow and improve decision-making accuracy. For extra info, go to www.bluej.com.

About Ten Coves Capital

Ten Coves Capital backs excessive development B2B software program corporations throughout the FinTech ecosystem the place its capital, community, and a long time of expertise might help speed up development and worth creation. Investing throughout funds, banking & lending, asset administration, capital markets, and insurance coverage & advantages (amongst different segments), the Ten Coves crew has helped scale over 40 corporations which are fixing trade ache factors, enabling workflows, and offering important infrastructure to the most important monetary establishments all the way down to SMBs. For extra info, go to tencoves.com.

View supply model on businesswire.com: https://www.businesswire.com/news/home/20241217312442/en/

Contacts

Media
Rose Duggan, Chief of Workers
pr@bluej.com

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