Harness Wealth Expands into Tax Advisory Space and Raises $17 Million Extension to Series A Round

Harness Wealth, a financial advisory startup that initially catered to startup founders and employees, has now expanded into the tax advisory space and secured a $17 million extension to its Series A round, bringing its total financing to $32 million. The company has launched a new tax advisory platform that aims to provide integrated services to solve the financial complexities of its consumer clients.

Since its last funding round in June 2021, Harness Wealth claims to have experienced significant growth, with a 10x increase in its client base and a 1588% surge in gross revenue growth. The company has diversified its clientele to include pro athletes, artists, board members, and journalists, in addition to tech industry employees.

CEO and co-founder David Snider highlighted the increasing need for high-quality tax services, especially among individuals with equity ownership, state-to-state moves, and investments in alternative asset classes. The company has already partnered with two major financial institutions in the U.S. to provide tax advice.

The latest financing round was led by Three Fish Capital, the venture arm of the Galvin Family, with participation from existing backers and notable investors such as Salesforce CEO Marc Benioff and Compass founder Ori Allon. Harness Wealth aims to democratize access to tax advisory services and collaborate with tax advisors to serve a broader clientele beyond the super-rich.