K1X

About K1X

K1x, Inc. operates as a financial technology firm specializing in the automation of tax compliance for alternative investments. Founded in 2022 by Neal Schneider and Geralyn Hurd, the Chicago-based company aims to digitize and streamline the historically manual processes associated with investment tax documentation. Hurd, the company's President, holds multiple patents related to AI and automation in tax transformation, reflecting the deep domain expertise embedded in the firm's foundation. The company is led by CEO John LaMancuso and has secured $35 million in funding over two rounds from investor Edison Partners to fuel its growth.

The core of K1x's business is a patented, AI-powered Software-as-a-Service (SaaS) platform that automates the extraction, distribution, and management of data from complex tax forms such as IRS Schedules K-1, K-3, and 990. This technology serves a diverse client base that includes institutional investors, accounting firms, private foundations, university endowments, and family offices. By connecting investors, advisors, tax software, and government authorities, the platform significantly reduces manual data entry, accelerates tax filings, and lowers operational costs and risks. Revenue is generated through subscriptions to its suite of software solutions, which includes the flagship K1 Aggregator®, K1 Creator®, and 990 Tracker®.

The company's product suite is designed to handle the high volume and complexity of alternative investment tax reporting. The K1 Aggregator® can extract data from a K-1 form in seconds, a process that could manually take up to 45 minutes. The platform also introduces the "Digital K-1," which bypasses the traditional PDF format to create a natively digital record, further streamlining data sharing. K1x's solutions integrate with major tax preparation software from providers like Thomson Reuters and Wolters Kluwer, enhancing workflow efficiency for tax professionals. The platform is trusted by over 8,000 organizations, including 44 of the top 100 U.S. institutional investors and 20 of the top 25 accounting firms.