With the announcement of a new CEO and $13 million raised in funding, Canopy continues to empower accounting practices nationwide. Learn how!
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Lehi, Utah - Dec. 4, 2019 - Canopy, a leading cloud-based practice management platform for tax professionals, today announced seasoned Silicon Slopes technology executive Davis Bell as its new CEO, succeeding founder Kurt Avarell who served in the role since 2014. It also announced a $13 million investment, led by NewView Capital, Pelion Venture Partners and Tenaya Capital. The round, comprised of $8 million in funding and $5 million in debt financing, brings Canopy’s total funding raised to date to $85 million
“I am thrilled to join Canopy, instantly attracted to its mission, its team and its solution set. I have focused my career on successfully scaling great companies and have already dug in with the team,” said Bell. “We are energized by our expanded leadership bench and refined product vision and are thrilled that our investors continue to support us as we transform the work of accountants across the country every day with digital solutions that empower them to work smarter.”
Bell’s arrival comes in tandem with a refined product vision, led by Larry Furr who joined as Canopy’s vice president of product earlier this year. After listening to the needs of its thousands of customers across the country, the company is focusing on its Practice Management and Tax Resolution solutions, which will entail moving its Tax Prep solution to private beta, for public release in the near future.
“The demands on accountants are more pressing and are evolving more rapidly than ever before, and technology will play a critical role in this dynamic,” said Chad Packard, partner, Pelion. “As digital transformation takes hold in accounting, Canopy is well positioned to lead this charge. We are excited to have Davis on board and will continue to collaborate with Canopy’s leadership and board in this mission.”
Bell has held critical leadership roles in operations, product, sales, strategy and finance at several fast-growth companies including Instructure, Sales Rabbit and Imagine Learning. Most recently, he served as head of the Utah office for Peek.com, where he led the customer onboarding, customer success, product support, HR and company culture functions.
Canopy provides cloud-based practice management and tax resolution software to thousands of accounting professionals nationwide. The modern, easy-to-use software cuts out tax practice busywork, improves the client experience, and brings all the different tools a practitioner needs under one roof. Canopy is also known for its convenient IRS Transcripts tool. Learn more at www.canopytax.com and @CanopyTax.
mPR, Inc. for Canopy
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Canopy takes the headaches out of client management by offering a way to keep client info organized.
I love how easy it is to setup a new client in this software. Once set up, it's one click to get IRS transcripts downloaded for my review. This saves me at least an hour each week in comparison to the software I used to use.
This makes workflow for tax resolution manageable. This business is a bunch of hurry up and wait. This system helps to refresh my memory while transitioning to different clients.
The ability to securely share documents with clients as well as complete POAs from client contact data already in Canopy. The ability to route workflow between team members with color coded statuses allows us to work efficiently.
Cool features, outstanding customer service, constantly updating to make it better. I love that I can upload files easily to a secure client portal and we don't have to email files anymore. Absolutely can't imagine not having this software.
It's safe and secure. Clients are able to upload documents and the documents are saved their portal which as a result, keeps us better organized. The task feature keeps us organized and we know exactly the status of each client.
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