AI-native tax data platform K1x has raised $175 million in growth capital, led by Sumeru Equity Partners, with existing backer Edison Partners — making its third investment in the company since 2022 — also participating. Sumeru will take a majority stake as part of the deal.
Founded by chief executive John LaMancuso, K1x uses patented AI and machine learning to automate the extraction, validation, and distribution of tax data from K-1, K-3, and 1099 forms, as well as IRS-certified 990 e-filing. LaMancuso argued that private markets tax compliance remains structurally broken, still reliant on manual processes and fragmented systems that cannot scale.
The platform already serves 44 of the 100 largest US institutional investors and 20 of the top 25 accounting firms. K1x will use the fresh capital to expand its AI capabilities, accelerate product development, and broaden customer support.