Planitax

About Planitax

Planitax, founded in 1999, operated in the application software industry, providing corporate tax software and services. The company's primary offering was the Provision Manager, a tool designed to help corporate tax departments manage and control tax information and documentation for calculating tax provisions. Its client base spanned several sectors, including semiconductors, medical technology, telecommunications, software, and entertainment industries.

The company's business model was centered on providing its software to corporations to streamline their tax processes. Over its lifetime, Planitax successfully raised $23.5 million in funding through multiple rounds, including a Series A in June 2003 for $7.5 million and a Series B in June 2005 for $5 million. Its investors included notable venture capital firms such as Access Venture Partners, Draper Fisher Jurvetson Management, Frontier Venture Capital, and Mobius Venture Capital. This financial backing enabled the company to develop its product and expand its market reach.

A significant milestone in the company's history was its acquisition by Thomson Reuters on May 7, 2009. This event marked the culmination of its journey as a venture-backed private company, transitioning into a part of a larger, global information services conglomerate. At the time of its acquisition, Planitax was headquartered in Alameda, California, and had 35 employees. There appears to be a separate, unrelated accounting and tax preparation firm with a similar name, Planitax Tax and Accounting Services, operating in Ponce, Puerto Rico.