LumaTax Raises $2M For Small Business Tax Reporting Software

LumaTax, a new startup has offices in both San Diego and Seattle, Washington, has raised $2M in a funding, the company said on Thursday. The funding came from Madrona Venture Group, Greycroft Partners, and angels. LumaTax develops software which can be used by small businesses to automate the paperwork required for paying sales taxes. The company is initially launching its product in California. The startup is led by Robert Shulte, who was founder of sales tax software provider Taxient, which was based in San Diego, and who he sold to tax software developer Avalara in 2010. He later was President and CEO of San Diego's Zurple, which was sold to Constellation Software in 2014, and was most recently serving as Entrepreneur In Residence in Seattle-based venture accelerator Pioneer Square Labs. More information »