Blue J raises USD $122 million as tax platform doubles growth
Toronto-based generative AI tax platform Blue J has secured USD $122 million in a new funding round. The firm has doubled both its revenue and customer base in the first half of 2025.
The funding round was led by Oak HC/FT and Sapphire Ventures, with additional participation from Intrepid Growth Partners, as well as previous investors Ten Coves Capital and CPA.com.
This latest round comes just seven months after Blue J's Series C funding, as the company experiences what it describes as rapid acceleration in its growth, marked by an expansion in both staff numbers and client acquisition.
Investor support
Benjamin Alarie, Chief Executive Officer and co-founder of Blue J, spoke about the significance of the partnerships established through this funding round.
"Their commitment is a powerful endorsement of our vision to transform tax research. With this capital and industry support, we will accelerate innovation and deliver even greater value to tax professionals. We are building the future of tax. This is just the beginning," said Alarie.
Blue J uses generative AI technology to deliver research and answers on tax matters, supporting professionals handling tax questions related to U.S. federal, state and local tax law, as well as Canadian and UK tax law. The platform is built on a database comprised of authoritative tax law sources, drawing insights from millions of user queries each year to enhance its system.
The company's approach differs from traditional keyword-based research tools by allowing users to ask questions in natural language and by returning answers with corresponding source citations in seconds.
Growth in revenue and reach
Since the beginning of 2025, Blue J has increased its employee headcount to over 80 and more than doubled its rate of customer acquisition. The firm now serves tens of thousands of tax professionals working in thousands of organisations for their tax research and analysis needs. "More than 70% of users log in weekly, and Blue J's Net Promoter Score (NPS) is consistently in the mid-70s," Blue J stated in a release.
""By applying generative AI to decades of tax rulings, Blue J reduces research that once took hours to just minutes," said Cathy Gao, Partner at Sapphire Ventures. "We believe their momentum shows the industry is ready, and we're proud to back Blue J as they build the operating layer for global tax cognition."
The platform's application of AI has also received recognition from big players in the technology sector. Marc Manara, Head of Startups at OpenAI, acknowledged Blue J's progress in utilising AI for tax research, noting:
"Blue J is a leading example of effective AI deployment in one of the most complex information domains. By leveraging OpenAI's latest models, Blue J has elevated the standard for accuracy, trust, and insight in tax research. We're excited to continue working together at the forefront of innovation."
Blue J states that it intends to further develop its capabilities and strengthen its position as a provider of AI-driven tax research tools, anticipating continued growth as tax complexity increases worldwide.
