Blue J, a Toronto-based AI-driven tax research platform, has raised $122 million USD (approx. $167.4 million CAD) in a Series D round led by Oak HC/FT and Sapphire Ventures, with participation from Intrepid Growth Partners, Ten Coves Capital, and CPA.com.
The round values the company at over $300 million USD.
From academic origins to AI tax intelligence at scale
Founded in 2015 by law professors Benjamin Alarie, Anthony Niblett, Albert Yoon, and CTO Brett Janssen, Blue J uses OpenAI’s large language models to power an AI assistant for tax professionals. The platform delivers answers across U.S. federal, state, and local tax law, as well as Canadian and UK tax codes, allowing firms to quickly find precedent, clarify legal positions, and enhance compliance workflows.
Advertisement
Rapid growth, recurring revenue, and market validation
Since its last disclosed round in 2021, Blue J has grown its customer base from 200 to over 2,500 organizations, including top firms like KPMG, RSM, and Crowe. The company says it has more than doubled revenue in H1 2025, tripled ARR over two consecutive years, and now derives 50%+ of ARR from multi-year contracts.
Headcount has grown to 80+ employees, and the company reached key distribution milestones through partnerships with CPA Canada and CPA.com, whose combined member networks span 600,000+ accountants across North America.
Fueling expansion across product, team, and geography
Blue J will use the new capital to:
- Expand its AI product offering for legal and tax research
- Grow its team across engineering, legal research, and sales
- Deepen presence in the U.S., Canada, and UK, with a focus on mid-market firms
The raise follows a quiet Series C in late 2024 and early 2025, which included ~$9.7M CAD in equity investment to support global expansion.
“We’re building the future of tax research: faster, more accurate, and more accessible,” said Benjamin Alarie, co-founder and CEO. “This new round gives us the runway to deliver transformative tools at global scale.”
