TaxBit Named to the 2022 CB Insights Blockchain 50 -- List of Most Innovative Blockchain Startups

NEW YORK, March 1, 2022 /PRNewswire/ -- CB Insights today named TaxBit, the leading tax and accounting software provider for the tokenized economy to its second annual Blockchain 50, which showcases the 50 most promising blockchain and crypto companies in the world.

The 2022 Blockchain 50 cohort has raised $17.1B in aggregate funding across over 200 deals since 2016 and includes startups at different investment stages of development, from early-stage companies to well-funded unicorns.

"2021 was the year blockchain entered our mainstream vocabulary," said Brian Lee, SVP of CB Insights' Intelligence Unit. "It powers some of our most innovative and cutting-edge technologies. Last year, we saw incredible success from the Blockchain 50 winners. This year, included among the winners we have 31 unicorns, 41 mega-rounds, and representation from 15 countries. We're excited to follow their journeys and see their success in 2022."

"Blockchain technology has incredible potential, and we're still in the early innings. In 2021 we saw unprecedented growth across the industry and throughout the regulatory landscape, CEO TaxBit. "We've been anticipating regulation on the information reporting front for years," Woodward said.

Taxbit unifies digital assets tax and accounting across enterprises, consumers and governments at scale. Their customers include industry-leading exchanges, protocols, and TradFi's along with retail consumers looking for best-in-class software. TaxBit recently announced, TaxBit Network, the first-of-its-kind network to provide FREE 2021 cryptocurrency tax forms to all users of supported TaxBit Network companies and the expansion of their US presence with a Washington D.C. office.

Through an evidence-based approach, the CB Insights research team selected the Blockchain 50 from a pool of over 3,000 companies, including applicants and nominees. They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights' proprietary algorithm that measures the overall health and growth potential of private companies.

2022 Blockchain 50 Investment Highlights:

• Unicorns: 31 of the 50 companies (62%) are valued at or above $1B as of their latest funding round.
• Funding trends: These 50 companies raised $13.2B in equity funding in 2021 across 83 deals (excluding token sales).
• Mega-rounds: In 2021, there were 41 mega-round ($100M+) equity investments to this year's Blockchain 50, nearly half of the total deal count.
• Global representation: This year's winners are based in 15 countries, with 44% of the companies based outside of the US. After the US (28 companies), the UK is home to the second most Blockchain 50 companies (5), followed by Canada, France, Singapore, and Switzerland (all at 2).
• Top investor: Coinbase Ventures is the most active investor in this year's Blockchain 50, having invested in 16 of the 50 companies. Andreessen Horowitz is second with 14 companies, followed by Paradigm at 13.

About CB Insights
CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.

CB Insights Press Contact:
[email protected]

About TaxBit
Designed by CPAs and tax attorneys, TaxBit is the leading tax and accounting solution for the tokenized economy. TaxBit's platform serves the industry's top exchanges, institutional investors, governments, and individuals. TaxBit has raised over $230 million from the world's-top investors in order to enable widespread digital asset adoption by automating the regulatory hurdles of tax and accounting compliance at scale. TaxBit has HQ in Salt Lake City and Seattle. To learn more visit: www.TaxBit.com, Twitter, LinkedIn.

TaxBit Media Contact:
[email protected]

SOURCE TaxBit