TaxCalc, a leading provider of tax and accounts compliance and practice management software, renowned for its customer-centric approach and its commitment to scalable, intuitive, and high value software, announced that it has received a significant investment from the STG Allegro fund.
The company intends to partner with STG and to use the capital to continue enhancing its product offerings, invest in customer success, and introduce new innovative 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. TaxCalc has been focused on providing high levels of customer support and a relentless drive for improvement and new product development.
Under Ebdon-Poole's leadership, TaxCalc has grown from a small team of five to an industry leader, with over 110 employees and over 11,000 accounting firm customers. In recent years, TaxCalc 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.
"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," said Tracy Ebdon-Poole, Founder, TaxCalc. "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, said, "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."
About TaxCalc
Founded in 2004, TaxCalc is a trusted provider of tax and accounting software, trusted by over 11,000 UK accountants. With a focus on providing innovative and easy-to-use software at a great value, TaxCalc focuses on expanding its offering to meet the evolving needs of accountants.
TaxCalc has a comprehensive set of software solutions that support UK-based accountancy firms of all sizes with tax compliance, accounts production, and practice management solutions.
TaxCalc continues to provide solutions to address practices' compliance needs with MTD tax solutions and Charity Accounts in development due for launch in 2025.
For more information, visit www.taxcalc.com.
About STG
STG is a private equity partner to market-leading companies in data, software, and analytics. The firm brings experience, flexibility, and resources to build strategic value and unlock the potential of innovative companies.
Partnering to build customer-centric, market-winning portfolio companies, STG creates sustainable foundations for growth that bring value to existing and future stakeholders.
The firm is dedicated to transforming and building outstanding technology companies in partnership with world-class management teams.
STG's expansive portfolio has consisted of more than 50 global companies.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241114433328/en/
Contacts:
For more information, please contact:
Andy North, Chief Marketing Officer
andy.north@taxcalc.com
01189 364 865
