OLarry, an AI-driven tax firm, has raised USD 10 million in a Series A funding round led by TTV Capital and joined by Walkabout Ventures and Marin Sonoma Impact Ventures.
This brings the company’s valuation to USD 14.5 million. With the funds, OLarry aims to further bridge the gap between DIY tax preparation and hourly tax advisory, supporting its clients to gain access to personalised tax strategies for an all-inclusive annual fee.
AI-driven tax advisory
OLarry automates client onboarding, document preparation, and data extraction by leveraging AI. This enables Certified Public Accountants (CPAs) to focus on offering proactive advice to clients with complex financial situations, instead of losing time on repetitive and manual operations.
Proactive tax planning has historically been utilised only by ultra-high-net-worth individuals who could afford the most elite tax firms to help them. OLArry aims to cater for the next generation of such businesses and individuals, who need personalised advice but are underserved by tax advisors, by enabling CPAs to offer tax advice year-round, not just during tax season. This will enable their customers to make smarter financial decisions and investments, as they will understand how it will impact their taxes.
This initiative comes after OLarry acquired Branton, de Jong & Associates in San Jose and Byrne, Seligman & Co., Inc. in San Mateo, while training its proprietary AI models to classify data, enable fast research, and bring automation to the manual tax process. Additionally, TTV Capital invested in OLarry, as it saw a market opportunity. With 75% of CPAs at the partner level expected to retire within the next 15 years and the significant AI developments that can improve tax preparation and filing, the company believes that OLarry will improve inefficiencies, eliminate manual work, and take a proactive approach to tax advisory services.
OLarry will utilise the recently acquired funds to continue building out the company’s proprietary tax data classification and extraction model, and advance the development of predictive scenario planning tools, helping its clients optimise tax outcomes in real-time. The funds will also be used to create an agentic AI-powered experience for its clients for better communication, education, and advisory interactions.
