Computis Company Profile

Background

Overview

Computis is a technology company specializing in digital asset tax and accounting solutions. Founded in 2019, the company is headquartered in Acworth, Georgia, United States. Computis offers a comprehensive suite of tools designed to assist accountants and financial professionals in accurately processing and reporting digital asset transactions. Their flagship product, the Computis Tax Engine, provides advanced costing methods and integrates seamlessly with existing accounting systems.

Mission and Vision

Computis aims to empower financial professionals with innovative tools that simplify the complexities of digital asset taxation and accounting. Their vision is to be the leading provider of digital asset accounting solutions, enabling clients to navigate the evolving landscape of digital finance with confidence.

Industry Significance

As digital assets like cryptocurrencies gain mainstream adoption, the need for specialized accounting solutions has become critical. Computis addresses this gap by offering tailored solutions that ensure compliance with tax regulations and optimize financial reporting for digital asset transactions.

Key Strategic Focus

Core Objectives

Innovation in Tax Solutions: Developing advanced algorithms and methodologies to accurately calculate tax liabilities for digital asset transactions.

Integration Capabilities: Ensuring seamless integration of their Tax Engine with various accounting platforms and financial systems.

Client Education and Support: Providing comprehensive support and educational resources to help clients effectively utilize their products.

Areas of Specialization

Digital Asset Taxation: Focusing on the unique challenges posed by digital assets in tax reporting and compliance.

Accounting Software Integration: Offering solutions that integrate with popular accounting software to streamline financial reporting.

Key Technologies Utilized

Advanced Costing Algorithms: Employing proprietary algorithms to determine the most tax-efficient methods for digital asset transactions.

API Integrations: Utilizing modern APIs to facilitate seamless data exchange between their Tax Engine and other financial systems.

Primary Markets Targeted

Accounting Firms: Providing tools to manage digital asset portfolios for clients.

Financial Advisors: Assisting in the integration of digital assets into client financial plans.

Digital Asset Investors: Offering solutions to individual investors for tax reporting and compliance.

Financials and Funding

Funding History

Computis has raised a total of $1.5 million in funding over two rounds. The most recent funding round was a Pre-Seed round closed on March 15, 2020. The lead investor for this round was BlockScience, a systems engineering firm active in the blockchain sector.

Utilization of Capital

The funds raised have been allocated towards scaling the engineering and support teams to enhance product development and customer service capabilities.

Pipeline Development

Key Pipeline Candidates

Computis is continually enhancing its Tax Engine to incorporate additional features such as real-time tax liability tracking and expanded integration capabilities with various financial platforms. Specific timelines for these developments have not been publicly disclosed.

Technological Platform and Innovation

Proprietary Technologies

Computis Tax Engine: A proprietary software solution that generates tax and accounting reports for digital asset transactions, utilizing advanced costing methods.

Significant Scientific Methods

Specific Lot Identification (SI): A costing method that allows taxpayers to select specific lots of digital assets for tax reporting, providing flexibility in tax planning.

Leadership Team

Elizabeth Dodge: Co-Founder and CEO. Elizabeth brings extensive experience in financial technology and has been instrumental in the development and strategic direction of Computis.

Sloane Brakeville: COO. Sloane has a background in operations management and has played a key role in scaling Computis's operational capabilities.

Market Insights and Competitor Analysis

The digital asset accounting market is experiencing rapid growth due to the increasing adoption of cryptocurrencies and other digital assets. This growth presents opportunities for companies like Computis to expand their offerings and capture a larger market share.

Key competitors include:

Xero: A global accounting software provider that has integrated cryptocurrency accounting features into its platform.

CoinRoll: A startup focusing on cryptocurrency tax reporting solutions.

Strategic Collaborations and Operational Insights

Computis has partnered with BlockScience to enhance the capabilities of its Tax Engine, leveraging BlockScience's expertise in blockchain systems engineering.

The company differentiates itself through its specialized focus on digital asset taxation, offering tailored solutions that address the unique challenges of this market segment. Their commitment to innovation and customer support positions them as a competitive player in the digital asset accounting space.

Strategic Opportunities and Future Directions

Computis plans to expand its product offerings by incorporating additional digital asset classes and enhancing integration capabilities with a broader range of financial platforms. By leveraging its technological expertise and market insights, Computis aims to solidify its position as a leading provider of digital asset accounting solutions.