ZenLedger, a leading cryptocurrency tax software and blockchain analytics startup, has raised $6 million in Series A funding. The funding round was led by Bloccelerate VC, with participation from investors such as Radical Ventures, G1 VC, Borderless Capital, and CoinGecko, among others. This brings the total funding raised by ZenLedger to $11.5 million.

The cryptocurrency industry has experienced significant growth and adoption over the past few years, with a market cap of $2.5 trillion and millions of users worldwide. As regulatory bodies like the IRS and J5 impose stricter reporting requirements for cryptocurrency investments and transactions, ZenLedger’s platform simplifies and automates the tax and accounting process, helping investors and accountants comply with IRS and SEC regulations.

Founded in 2017, ZenLedger plans to use the latest funding to launch its cryptocurrency portfolio management solution, which allows investors and traders to track their portfolio performance and tax savings in one continuously updated dashboard. The company also aims to expand its team by hiring for marketing, enterprise sales, customer service, and software engineering positions to enhance its product and customer experience.

Investor Mark Cuban recognizes the value that blockchain, crypto, DeFi, and NFTs bring and believes that ZenLedger’s accounting and reporting infrastructure will make crypto-related activities easier for everyone. Kate Mitselmakher, General Partner at Bloccelerate VC, sees ZenLedger as a frontrunner in supporting the growing compliance and reporting complexities in the blockchain space.

ZenLedger’s platform has gained popularity among tax professionals and consumers for its user-friendly interface, excellent customer service, and ability to provide tax filings and financial analysis. The company has experienced significant growth, with a 500% year-over-year increase in customer count and revenue, processing over $5 billion in cryptocurrency transactions.

Founded in 2017, ZenLedger is a platform that aggregates user transaction information from thousands of exchanges, wallets, and tokens into a single dashboard. This allows users to easily calculate their tax liability and make informed financial decisions. ZenLedger supports integration with over 400+ exchanges, 40+ blockchains, 20+ DeFi protocols, and all wallets.