Product innovation and customer focus generate new income
Chicago, IL (PRWEB) February 24, 2023
K1x, the leading data distribution platform for alternative investments, today announced new leaders, record customer growth and strengthened market leadership with new product innovation.
New hires and key hires:
In addition to hiring more than 20 new employees in Q4 of 2022 in product, engineering, customer success and other areas, the company brought in Ken Powell as Chief Revenue Officer and Scott Turner as SVP Marketing to round out its leadership team. “As they struggle to meet the needs of investors and tax authorities, today’s tax and compliance professionals face a perfect storm of changing regulatory requirements, historic staffing constraints, skyrocketing volumes of tax forms and inefficient spreadsheets. Only K1x can help them streamline and automate take the pain out of producing, receiving and filing 990s, K-1s and related forms”, said Ken Powell.
Scott Turner, SVP Marketing added, “K1x accelerates the last mile of data exchange for alternative investments. Our industry-leading platform frees advisors from tedious, manual data entry, unleashing their talent toward high-value strategy work that benefits investors with timely and transparent This remarkable technology not only returns nights and weekends to advisors, it also provides alternative asset investors with more timely and accurate estimates of tax liability and a view of their after-tax returns.”
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New product innovation:
In the fourth quarter of 2022, K1x released the K-1 Navigator. Perfect for private equity, venture capital, hedge funds, REITs, professional services firms and other K-1 producers, K-1 Navigator streamlines the IRS Schedule K-1 production process by automating preparation, streamlining analysis and delivering the only truly digital PDF K-1 experience. K-1 Navigator provides easy-to-use workflows for seamless investor demographic gathering and K-1 production and distribution. It also provides tax logic and automated investor data collection and a time-saving footnote library with integrations to popular e-filing software.
Scott Schitter, VP of Tax at Bon Secours Mercy Health said, “Before we had K1x, we relied on huge spreadsheets to prepare our tax exemptions. We needed to find a way to make tax preparation more efficient on our exemption side. Now it’s easy to setting up new devices, collecting and storing information, preparing returns and managing the entire process for tax free return preparation. Everyone in our team loves the K1x solution. I don’t know how people track all their investments without K1x. It has made our entire process so much more efficient and it’s great that K1x has exempt experts on staff.”
New customers and revenue growth:
Leaning on product innovation and a commitment to client success, K1x achieved record growth in the 4th quarter of 2022 and is now trusted by more than 6,000 companies, including
- 20 of the top 100 largest institutional investors in the United States
- 25 of the top 100 accounting firms
- 19 of the top 25 university scholarships
- 7 of the top 40 health systems
- 10 of the top 50 private foundations and family offices
About Edison Partners Edison Partners is a leading growth equity firm that provides the financial and intellectual capital that CEOs and their leadership teams need to grow and scale their companies. The firm’s team brings more than 275 years of combined investment, operations and sector experience to each investment, accessible through the Edison Edge value creation platform, which is tailored to each business’s strategy, stage and operational needs. Edison targets financial technology, health IT and vertical SaaS companies and marketplaces outside of Silicon Valley with $10 million to $30 million in revenue. Investments also include acquisitions, recapitalizations, spinouts and secondary share purchases. Edison’s active portfolio has created a total market value of over 10 billion dollars. Edison Partners manages $1.6 billion in assets. For more information about Edison Partners, please visit edisonpartners.com and follow on LinkedIn.
About K1x, Inc.
K1x is the leading data distribution platform for alternative investments. The fintech company’s AI-powered SaaS solution digitizes and distributes data seamlessly – connecting investors, advisors, tax software, portals, accounting firms, the IRS and state tax authorities – simplifying complex processes, accelerating filings, reducing costs and providing greater control, transparency and accessibility . Backed by Edison Partners, K1x is trusted by more than 6,000 organizations, including 20 of the 100 largest institutional investors in the United States, 39 of the top 400 accounting firms, 10 of the top 50 private foundations and family offices, 19 of the best. 25 university scholarships, 7 of the top 40 health systems and 10 of the top 50 private foundations. Visit us at K1x.io and follow us on LinkedIn.
For the original version on PRWeb visit: https://www.prweb.com/releases/2023/MM/prweb19184631.htm
