CoinTracker Raises $100M Series A at $1.3B Valuation

CoinTracker, a cryptocurrency tax and portfolio tracking company raised $100 million in a Series A financing round bringing its total valuation to $1.3 billion. The round was led by Accel with participation from both existing and new investors including General Catalyst, Initialized Capital, Y Combinator Continuity, 776 Ventures, Coinbase Ventures, Intuit Ventures, Kraken Ventures, as well as Claire Hughes Johnson (Former COO, Stripe), Gokul Rajaram (Coinbase and Pinterest board member), Jeremy Liew (Early Investor in Affirm and Snapchat), and Alex Bouaziz (Deel CEO). The company plans to use the funding amount to cover segments such as crypto exchanges, DeFi and NFTs. Scaling customer support, content and community to help users address their crypto portfolio and tax challenges will also be looked into. Furthermore, the firm also plans to expand its team and hire new talents including Head of Engineering Gaurav Garg, formerly VP of Engineering at Uber and Google; as well as Product Lead Zack Reneau-Wedeen, formerly Head of Product at Robinhood Crypto. “CoinTracker and its investors have a shared mission of increasing the world’s financial freedom and prosperity. Our industry-defining investing partners like Accel believe in our vision and opportunity to give people more control of their wealth and taxes. We are incredibly excited to partner with them to make cryptocurrency portfolio tracking and tax compliance seamless, and ultimately enable and accelerate mainstream adoption of crypto,” said Jon Lerner, CEO and co-founder of CoinTracker. CoinTracker allows users to track their crypto portfolio, across exchanges and wallets to help their market value, investment performance, transactions, and taxes as they transact with cryptocurrencies to provide a seamless tax experience. The company is also the exclusive cryptocurrency tax partner for many of the top exchanges and tax products, including Coinbase, OpenSea, Intuit’s TurboTax, and Blockchain.com.  

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