Onshore Raises $31M Series B
Onshore, the AI-native corporate tax platform formerly known as SPRX, has raised a $31M Series B led by FPV Ventures, with participation from Vertex Ventures US, Restive Ventures, PruVen Capital, and Y Combinator. The round comes alongside a rebrand that the company says reflects its core thesis: tax work should be accountable and grounded in evidence, not abstract or outsourced.
The company came through YC's W23 batch, where it was backed at the seed stage by Pioneer Fund and others, and later raised a $12M Series A led by Vertex Ventures US with participation from Y Combinator, Restive, and Rebel Fund.
Founder and CEO Dominic Vitucci launched his career at Grant Thornton, where he saw how much time and money companies were losing to manual tax processes. He left to build a prototype that automated R&D tax credit work, which became the foundation for SPRX. The company has since grown well beyond R&D credits, and the new name signals that expansion.
The problem Onshore is going after is large. More than $200 billion in tax incentives go unclaimed every year, not because companies don't qualify, but because the process of identifying and defending those credits is slow, manual, and expensive. A traditional firm takes 270 days to complete an R&D credit study. Onshore says its platform does it in 28 days.
The company has worked with over 500 companies and claims to have identified and defended more than $600 million in incentives. Its platform connects to payroll, GL, and project management systems, reviewing every document and flagging what's missing against IRS standards. Every claim is traceable to source data.
The distinction the company draws is between a tech-enabled service and a platform that replaces the service model entirely. Onshore automates CPA workflows with AI where it makes sense and keeps expert judgment where it matters, particularly in documentation and audit defense.
The Series B will fund expansion beyond credits and incentives into other corporate tax workflows that are still largely done by hand.