SPRX Analysis: $12M Raised
What is SPRX?
Onshore, formerly SPRX, provides tax credit and deduction services for finance teams using AI precision and expert review. The company says it delivers R&D tax credits, 179D deductions, and cost segregation studies in weeks rather than months. Its site emphasizes audit-ready documentation and defensibility for tax packages.
Location
New York, United States
Employees
51-200
Founded
2022
Product Features & Capabilities
- R&D Credit, 179D Deduction, Cost Segregation, AI-powered software for tax savings, audit-ready reports, integration with popular enterprise software
How much SPRX raised
Series A - $12M
January 2, 2025Lead Investor: Vertex Ventures US, Y Combinator, Restive, Rebel Fund
Who are the founders of SPRX
DV
Dominic Vitucci
Founder & CEO
Business Model
AI-driven tax credit services with revenue from fees for successful claims and audits.
Investors
- Vertex Ventures US
- Y Combinator
- Restive
- Rebel Fund
- Decacorn Capital
- ADP Ventures
- Burst Capital
- K20 Fund
Competitors Overview
SPRX operates in the tax incentive software market, focusing on maximizing R&D tax credits and energy efficiency deductions. Its main competitors include:
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TaxRobot: Known for its AI-driven approach and value-based pricing, which aligns its success with that of its clients. It emphasizes automation and user-friendliness in its software.
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Neo.Tax: This company simplifies tax strategies using advanced algorithms and focuses on automating the R&D tax credit process. It connects with various platforms like GitHub and Jira to streamline the process.
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MainStreet: Targets small businesses, helping them navigate R&D tax credits with minimal complexity. It is designed to be user-friendly and accessible.
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Clarus R+D: Offers personalized support and compliance services, focusing on customized solutions for R&D tax credits.
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Kipsi: Tailors its technology for professional service firms, providing specialized tools for tax credit claims.
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Pilot: Provides comprehensive accounting services that integrate R&D tax credit support, appealing to businesses looking for a full-service solution.
Each competitor has unique strengths, such as automation, user-friendliness, and specialized services, which differentiate them in the market compared to SPRX.
Market Focus
SPRX primarily focuses on the tax technology industry, specializing in maximizing tax incentives for businesses, particularly through R&D tax credits and energy efficiency deductions using AI-powered software.
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