Blue J, a Toronto-based AI tax research startup, has raised CAD 167.4 million (USD 122 million) in Series D funding. It is the company’s largest round to date.
Blue J more than doubled revenue in the first half of 2025. Its customer base also more than doubled. The company now serves over 2,500 organisations, up from around 200 in 2021.
Oak HC/FT and Sapphire Ventures led the round. Intrepid Growth Partners joined, alongside returning investors Ten Coves Capital and CPA.com.
Valuation and Funding Sources
SEDAR filings show CAD 161 million came from international investors. CAD 6.4 million came from Canadian backers. The deal reportedly values Blue J at over USD 300 million (CAD 413 million).
Drivers of Growth
CEO Benjamin Alarie co-founded Blue J in 2015. The platform uses generative AI and large-language models to speed up tax research in the U.S., Canada, and the UK. It delivers instant, citation-backed answers to complex questions.
The company now employs more than 80 people. It hired about 40 of them in 2025.
What’s Next
The new capital will fund hiring, product upgrades, and market expansion. Blue J aims to capture more share in legal and tax AI. Rising tax complexity is expected to drive demand for its tools.
