Tax management infra startup Prosperr.io raises $4 M from Jungle Ventures

Jungle Ventures led a $4 million seed funding round for Prosperr.io, an AI-driven tax management infrastructure startup. Sadev Ventures, Yatra Angel Network, and other investors participated in the round as well.

Since its founding in 2022, the Bengaluru-based business has raised a total of $5.55 million. Gokul Rajaram, a board member at Pinterest and Coinbase, led Prosperr’s pre-seed round, which raised $1.55 million earlier in August of last year.

The money raised will be used to expand its B2B sales operations, improve AI capabilities, and speed up product development. Additionally, the business is considering growing into related fields like wealth management.

Prosperr.io, which was founded by Manas Gond and Dev Kumar, is developing software infrastructure to handle employee reimbursements, tax planning, and compliance for both individuals and businesses. The platform manages filings, deductions, and compliance workflows for businesses and salaried users using automation and artificial intelligence.

Prosperr.io provides businesses with tools that reduce manual processing and regulatory risk by automating employee tax benefits, reimbursements, and compliance.

The business uses a subscription-based business model for its customers, offering continuous tax planning and advice that adapts to changes in income and financial objectives.

In an effort to streamline corporate tax operations, the company has also added an AI-powered reimbursement product to its enterprise offering. Prosperr.io reports high retention among business clients and significant traction in both markets.