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§ Private Profile · Draper, UT, USA
Practice management software for accounting firms, helping tax attorneys and accountants streamline operations, client management, and financial tasks.
Canopy has raised $294.7M across 19 funding rounds.
Key people at Canopy.
Canopy has raised $294.7M in total across 19 funding rounds.
Canopy is a software company based in South Jordan, Utah, that provides cloud practice management solutions for accounting firms and tax professionals. The organization operates on a SaaS subscription model, delivering a comprehensive digital platform designed to streamline daily administrative operations, client relationship management, and complex financial tasks. Originally conceptualized by a former Wall Street tax attorney to address critical inefficiencies in existing accounting tools, the platform now serves a broad spectrum of individual practitioners and midsize firms. The enterprise has raised approximately $160 million in total venture funding to date, securing growth capital from prominent lead investors including New Enterprise Associates, Pelion Venture Partners, and Ten Coves Capital. The corporate leadership team currently includes executives such as Davis Bell and product strategy lead Hanna. Canopy was officially established in 2014 by founder Kurt Avarell.
Key people at Canopy.
Canopy is a technology company primarily known for its industry-leading privacy and data breach response software that helps organizations detect, protect, and manage personally identifiable information (PII) in compliance with global data privacy laws like GDPR and CCPA[1]. It serves enterprises and organizations that need to respond quickly and accurately to data breaches, enabling them to notify authorities and affected individuals efficiently. Canopy’s products leverage AI and machine learning to automate and accelerate breach response and privacy audits, addressing the critical problem of slow, costly, and inaccurate PII detection in breached data[1]. The company has demonstrated strong growth momentum by continuously innovating, including pioneering database sampling capabilities and securing patents for its technology[1].
Canopy was founded by Ralph Nickl, who brought experience from the ediscovery software market where he observed the inefficiencies in handling breached data[1]. The idea emerged as data privacy regulations were rapidly evolving globally, but existing technology was inadequate to meet these new demands. Ralph aimed to create a purpose-built tool that not only complied with regulations but also made breach response faster and more transparent. Since its founding, Canopy has evolved from a niche breach response tool to a broader privacy audit platform, expanding its product suite and securing intellectual property rights to solidify its leadership in the space[1].
Canopy rides the growing global trend of stringent data privacy regulations and increasing cyber threats. The timing is critical as organizations face mounting pressure to comply with laws like GDPR, CCPA, and others, while also managing reputational risks from breaches. Market forces such as rising data volumes, complex IT environments, and the high cost of manual breach response work in Canopy’s favor. By automating and accelerating breach response, Canopy influences the broader ecosystem by setting new standards for privacy compliance technology and helping organizations build trust with customers through transparency[1].
Looking ahead, Canopy is well-positioned to expand its leadership in privacy and breach response software as data privacy regulations continue to evolve and enforcement intensifies. Trends such as increased adoption of AI in cybersecurity, growing regulatory complexity, and heightened consumer privacy awareness will shape its journey. Canopy’s ongoing innovation, including expanding its product capabilities and enhancing automation, will likely deepen its influence in helping organizations manage privacy risk proactively. Its patented technology and early market leadership provide a strong foundation for sustained growth and ecosystem impact[1].
Canopy has raised $294.7M across 19 funding rounds. Most recently, it raised $22.0M Series B in January 2026.
Canopy has raised $294.7M in total across 19 funding rounds.
Canopy's investors include Andrew Brooks, ACME Capital, Viking Global Investors, Ankona Capital, Benchmark, Deep Fork Capital, GSR Ventures, High Alpha, Hustle Fund, Kindred Ventures, Matrix, Nyca Partners.
