Jungle Ventures led a $4 million seed fundraising round for Prosperr.io, an AI-driven tax management infrastructure firm. Sadev Ventures, Yatra Angel Network, and other investors participated in the round as well.
Key Highlights
- Prosperr.io raises $4M seed funding led by Jungle Ventures to scale AI tax management.
- Round also saw participation from Yatra Angel Network and Sadev Ventures for product expansion.
Since its founding in 2022, the Bengaluru-based business has raised a total of $5.55 million. Gokul Rajaram, a board member at Pinterest and Coinbase, led Prosperr's pre-seed round, which received $1.55 million earlier in August of last year.
The money raised will be used to expand its B2B sales operations, improve AI capabilities, and speed up product development. Additionally, the business is considering growing into related fields like wealth management.
Prosperr.io, which was founded by Manas Gond and Dev Kumar, is developing software infrastructure to handle employee reimbursements, tax planning, and compliance for both individuals and businesses. The software manages filings, deductions, and compliance operations for enterprises and salaried users using automation and artificial intelligence.
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Prosperr.io provides businesses with tools that reduce human processing and regulatory risk by automating employee tax advantages, reimbursements, and compliance.
The business uses a subscription-based business model for its customers, offering continuous tax planning and advice that adapts to changes in income and financial objectives.
In an effort to streamline corporate tax operations, the company has now added an AI-powered reimbursement product to its enterprise offering. Prosperr.io reports great retention among business clients and significant traction in both markets.
