OLarry, an AI-driven tax firm, secured USD 10 million in Series A funding led by TTV Capital and accompanied by Walkabout Ventures and Marin Sonoma Impact Ventures. This investment brings the company’s valuation to USD 14.5 million.

Enhancing Tax Advisory Services

With the new capital, OLarry intends to expand its services, bridging the gap between do-it-yourself tax preparation and hourly tax advisory. The aim is to provide personalized tax strategies to clients at an all-inclusive annual fee.

OLarry leverages AI to automate client onboarding, document preparation, and data extraction. This allows Certified Public Accountants (CPAs) to focus on delivering proactive advice to clients with complex financial situations rather than spending time on repetitive tasks.

Broadening Tax Advisory Services

The initiative comes after OLarry acquired Branton, de Jong & Associates in San Jose and Byrne, Seligman & Co., Inc. in San Mateo. Additionally, the company has been training its proprietary AI models to classify data, enable quick research, and automate manual tax processes.

TTV Capital’s investment reflects a market opportunity. According to the firm, 75% of CPAs at the partner level are expected to retire within the next 15 years. With significant advancements in AI technology for tax preparation and filing, TTV Capital believes that OLarry can improve inefficiencies, eliminate manual work, and adopt a proactive approach to tax advisory services.

Future Plans

The recently acquired funds will be used by OLarry to continue developing its proprietary tax data classification and extraction model. The company also plans to advance the development of predictive scenario planning tools to help clients optimize their tax outcomes in real-time.

Furthermore, OLarry intends to create an AI-powered experience for better communication, education, and advisory interactions with its clients.