MainStreet, a US-based provider of tax claim services for businesses, has received $60m in a series A round backed by internet technology provider Google’s artificial intelligence fund, Gradient Ventures.
Venture capital firm SignalFire led the round, which included Sound Ventures, Tusk Ventures, Moxxie Ventures, Shrug Capital, AVG Basecamp Fund, Basement Fund, Backend Capital, Remote First Capital, Scribble Ventures and angel investor Des Traynor.
Founded in 2018, MainStreet helps business claim tax credits from the United States government. It said it has assisted more than 1,000 startups in claiming over $80m of tax credits in aggregate.
The company will use the series A proceeds to increase headcount, automate more of its manual processes and expand its offering to include more types of tax credits.
Gradient Ventures led MainStreet’s $2.3m seed round in June 2020, with investments from Weekend Fund, Shrug Capital, SV Angel, Remote First Capital, Basement Fund, AVG Basecamp Fund, Backend Capital and unnamed individuals.