Blue J has raised $176 million in a Series E led by JMI Equity to develop AI agents that review tax returns and prepare client documents. The Toronto company announced the round on November 10, while its financing page describes the new Workflows product as forthcoming.
The company sells annual software subscriptions for tax research, including answers backed by source citations, memo drafting and email writing. It says more than 6,500 organizations use Blue J, including Big Four accounting firms and Fortune 100 companies.
For an IRS notice, the planned agents would use the letter and supporting tax records to assemble deadlines, a draft response and an email to the client, according to Blue J’s product description. The software would expose its sources and intermediate steps for a professional to review, with judgment calls left to the practitioner.
The round values Blue J at more than $700 million. Existing investors Oak HC/FT, Sapphire Ventures and Intrepid Growth Partners also participated. The company plans to put part of the proceeds toward expansion in the United Kingdom and other markets.
The new round follows a $122 million Series D announced on August 4, 2025, led by Oak HC/FT and Sapphire Ventures. Blue J reports that annual recurring revenue grew 165% in the 15 months after that financing.