Onshore raises $31M Series B to rebuild tax services with intelligent automation

Onshore (formerly SPRX), an AI-powered tax platform now operating under a new corporate name, has raised a $31 million Series B led by FPV Ventures, with participation from Vertex Ventures, ADP Ventures, Y Combinator, and Restive Ventures. The round brings the company’s total funding to $46 million and will support expansion into additional U.S. tax and accounting domains.

The company will continue operating with the same leadership team, customers, and legal entity, now doing business as Onshore.

Why it matters

Each year, more than $200 billion in tax incentives go unclaimed or are misfiled, driven less by the tax code itself and more by manual workflows, inconsistent documentation standards, and outdated interpretations of IRS guidance. These gaps can lead to long timelines and incomplete credit identification.

Onshore says it is rebuilding that system to work for businesses, not billable hours.

“Traditional tax services were designed for billable hours, not outcomes. Too many providers rely on sampling and outdated processes. It’s costly, frustrating, and leaves billions of dollars unclaimed every year. We’re rebuilding that model with technology and human expertise to deliver precision, transparency, and speed, turning tax from a cost center into capital for growth.”

— Dominic Vitucci, Founder and CEO, Onshore

How the platform works

Traditional tax providers often use statistical sampling to estimate R&D credits, but each qualified research activity must ultimately be substantiated at the business-component level. Sampling errors can increase audit risk or result in incomplete claims.

Onshore instead performs detailed business-component analysis and says it can deliver more comprehensive studies in as little as 28 days. Each study is documented to IRS standards, with traceability from source data to qualified expenditures.

The company claims results including 90% faster studies, 30–50% lower client costs, and approximately 15% more eligible credits identified on average.

Onshore’s platform combines structured data pipelines, proprietary machine learning models, and expert review layers to transform raw financial documentation (including payroll data, general ledgers, and technical project evidence) into audit-ready reports.

Onshore says more than 500 companies across technology, energy, manufacturing, architecture, and agriculture have used the platform to identify and defend over $600 million in tax incentives.

“We worked with a well-known firm for years and were never advised to explore the R&D credit, despite the nature of our work. We only discovered the opportunity by chance, not through proactive guidance. Onshore took the time to understand our projects using documentation we already had and delivered hundreds of thousands of dollars in annual credits without pulling our engineers away from active work. The process was straightforward, non-intrusive, and gave us confidence in both the result and the approach.”

— Mark, CFO, Engineering Firm

What’s next

Onshore says the new funding will accelerate its expansion beyond tax credits, extending automation into the financial and accounting workflows that underpin corporate compliance and reporting.

“Onshore isn’t just modernizing tax; they’re setting a new standard for an industry that’s left $200 billion on the table.”

— Wesley Chan, Co-founder and Managing Partner, FPV Ventures

Onshore is an AI-powered tax platform focused on helping businesses unlock, optimize, and defend complex incentives such as the R&D Tax Credit, 179D Deduction, and cost segregation studies.