Onshore, an AI-powered tax platform formerly known as SPRX, announced it has raised $31 million in Series B funding to accelerate its expansion across additional U.S. tax and accounting domains. The round was led by FPV Ventures, with participation from Vertex Ventures, ADP Ventures, Y Combinator, and Restive Ventures. The financing brings the company’s total funding to $46 million.
The company will continue operating under the same leadership team, customer base, and legal entity, now doing business as Onshore.
Onshore is targeting inefficiencies in the tax services industry, where more than $200 billion in tax incentives go unclaimed or misfiled each year. The company argues that the issue stems less from tax code complexity and more from outdated systems built around manual reviews, inconsistent documentation standards, and reliance on statistical sampling.
Founded in 2020 and headquartered in New York, Onshore combines structured data pipelines, proprietary machine learning models, and expert review layers to convert raw financial documentation—such as payroll records, general ledgers, and technical project materials—into audit-ready tax reports.
Unlike traditional providers that often use statistical sampling to estimate R&D tax credits, Onshore conducts detailed business-component-level analysis. Each study is documented to IRS standards with traceability from source data to qualified expenditures. The company says this approach enables studies to be completed in as little as 28 days, delivering what it describes as 90% faster turnaround times, 30–50% lower client costs, and approximately 15% more eligible credits identified on average.
To date, more than 500 companies across sectors, including technology, energy, manufacturing, architecture, and agriculture, have used Onshore to identify and defend over $600 million in tax incentives.
With the new capital, Onshore plans to expand beyond tax credit studies into broader financial and accounting workflow automation that supports corporate compliance and reporting, marking what it describes as the next phase in modernizing tax and professional services infrastructure.
KEY QUOTES:
“I spent years at a top ten firm and quickly learned that traditional tax services were designed for billable hours, not outcomes. Too many providers rely on sampling and outdated processes. It’s costly, frustrating, and leaves billions of dollars unclaimed every year. We’re rebuilding that model with technology and human expertise to deliver precision, transparency, and speed, turning tax from a cost center into capital for growth.”
Dominic Vitucci, Founder And CEO Of Onshore
“Onshore isn’t just modernizing tax, they’re setting a new standard for an industry that’s left $200 billion on the table. We back founders who are dedicated to solving problems they know better than anyone else and are leveraging AI in ways that once weren’t possible to build category-defining products. We believe Onshore is proof that the most broken systems create the biggest opportunities.”
Wesley Chan, Co-Founder And Managing Partner At FPV Ventures
“We worked with a well-known firm for years and were never advised to explore the R&D credit, despite the nature of our work. We only discovered the opportunity by chance, not through proactive guidance. Onshore took the time to understand our projects using documentation we already had and delivered hundreds of thousands of dollars in annual credits without pulling our engineers away from active work. The process was straightforward, non-intrusive, and gave us confidence in both the result and the approach.”
Mark, CFO, Engineering Firm
