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Drake Software delivers professional tax preparation and e-file software solutions, serving as a comprehensive hub for tax practices. Its core product, Drake Tax®, streamlines workflows through fast calculations, extensive accuracy checks, and customizable features. The platform integrates workflow automation, digital signatures, payment processing, and secure client data transfer, alongside a full suite of accounting and payroll tools, designed to enhance operational efficiency.
The company was founded in 1976 by Phil Drake, an individual with a background in accounting who recognized the pressing need for efficient tax preparation tools. Drake leveraged his practical experience to develop a robust software solution, driven by the insight that technology could significantly empower tax and accounting firms to manage their complex operations more effectively. This foundational vision aimed to provide powerful and reliable software to an underserved market.
Drake Software serves a wide array of professional tax preparers, from independent practitioners to multi-site tax and accounting businesses. The company’s mission centers on boosting productivity and optimizing financial outcomes for its users by simplifying intricate tax processes. Looking forward, Drake Software remains committed to innovating and evolving its comprehensive, efficient, and secure offerings to enable tax professionals to better serve clients and strategically grow their practices.
Drake has 6 tracked investments across 6 companies. The latest tracked deal is $4.9M Seed in Baydin in January 2024.