--- title: AI Tax Startup Black Ore Opens Platform to CPA Firms description: Black Ore opens its AI tax preparation software to thousands of accounting firms after a two-year pilot. Backed by a16z and Oak HC/FT. author: Darie Nani (Editor-in-Chief) date: 2026-04-29T14:20:32.293Z updated: 2026-04-29T16:15:49.025Z canonical: https://www.sovereignmagazine.com/article/black-ore-tax-autopilot-launch image: https://cdn.nanimediahouse.com/Eyal Shinar.png categories: Artificial Intelligence, Startups, FinTech content_type: Spotlight publication: Sovereign Magazine about: - type: Organization name: Black Ore description: Black Ore is an AI platform for financial services, headquartered in Austin, Texas. Its flagship product, Tax Autopilot, automates federal and state 1040 tax preparation for CPAs and accounting firms. The company emerged from stealth in November 2023 with $60 million in funding led by Andreessen Horowitz and Oak HC/FT. url: https://www.blackore.ai foundingDate: 2022-01-01T00:00:00.000Z industry: Artificial Intelligence sameAs: - https://www.linkedin.com/company/black-ore-ai - https://www.crunchbase.com/organization/black-ore-technologies --- Black Ore, an Austin-based artificial intelligence startup for tax preparation, opened its software to thousands of accounting firms on Wednesday, ending a two-year invitation-only pilot. The company said its Tax Autopilot product had been used by 75 firms during the pilot, including 40 percent of the 20 largest CPA firms in the United States by revenue. About 3,700 firms have joined a waiting list for access. [Maxwell Locke & Ritter](https://www.mlrpc.com/), a top 100 firm based in Austin, is among the customers named by Black Ore. The launch lands two weeks after the April 15 filing deadline, the busiest period of the US tax calendar. Black Ore framed the announcement around the shortage of qualified accountants. The Bureau of Labor Statistics has recorded about 300,000 net departures from the profession over the past two years. The number of candidates sitting the CPA examination was at a 17-year low in 2022, according to AICPA, the most recent comparable figure. ## How Tax Autopilot Works Tax Autopilot ingests source documents including W-2s, 1099s, K-1s and brokerage statements; classifies them; extracts the underlying data; applies federal and state tax-code logic; generates supporting workpapers; and routes the completed return into a firm's existing tax software for human sign-off. Black Ore said the product had achieved accuracy above 99 percent across tens of thousands of returns during the pilot, and time savings of up to 98 percent on complex filings. The platform holds SOC 2 Type II certification. > "Tax Autopilot has proven itself across tax seasons with top CPA firms, and now it's time to scale." > — Eyal Shinar, co-founder and chief executive of Black Ore ## AI Tax Preparation Funding and Competition Black Ore raised $60 million in a single disclosed funding round in November 2023, co-led by Andreessen Horowitz and Oak HC/FT, with Founders Fund, General Catalyst, Khosla Ventures and Trust Ventures also participating. Angel investors include Tom Glocer, former chief executive of Thomson Reuters; Max Levchin, founder of Affirm and PayPal; and Jason Gardner, founder of Marqeta. The company has not announced further funding since. Competition in AI tax preparation has tightened. [Basis](https://www.getbasis.ai/), a New York-based rival that sells a broader accounting AI platform, raised $100 million in a Series B round at a $1.15 billion valuation in February 2026. Basis, which counts Khosla Ventures among its investors alongside Black Ore, says it is used by 30 percent of the 25 largest US accounting firms. Aiwyn, a practice-management software incumbent serving more than 800 firms, acquired Column Tax in 2025 and is recruiting 100 firms for a 1040 pilot during the 2026 tax season. ## Black Ore and the Accountant Shortage Demand for accounting services has continued to rise while the supply of qualified professionals has fallen. AICPA membership data shows fewer accountants entering the profession each year, with the 2022 examination cohort the smallest in 17 years. Black Ore cited an estimated 125 million-hour annual shortfall in tax services in the United States, equivalent to about $25 billion in unmet demand, although the company did not attribute the figure to an external source. For firms, the practical effect has been longer hours during tax season and growing reliance on offshore staff. AI tax preparation platforms aim to absorb the document handling and first-pass preparation work that has historically driven the busy-season workload, leaving the qualified accountant to review and sign. ## From Fundbox to Black Ore Black Ore was founded in 2022 by Eyal Shinar, who previously co-founded Fundbox, a small-business credit fintech he scaled to unicorn status before stepping down as chief executive in June 2020. Fundbox laid off about 150 staff, or 40 percent of its workforce, in October 2022 and has not exited. Shinar holds a Wharton MBA and was previously an executive at Battery Ventures. Tax Autopilot is the only product the company sells. Black Ore says it intends to build a broader AI platform for financial services, with tax preparation as the first product. **About Black Ore** Black Ore is an AI platform for financial services, headquartered in Austin, Texas. Its flagship product, Tax Autopilot, automates federal and state 1040 tax preparation for CPAs and accounting firms. The company emerged from stealth in November 2023 with $60 million in funding led by Andreessen Horowitz and Oak HC/FT. [Website](https://www.blackore.ai) ## FAQ **Q: What is tax automation software?** Tax automation software refers to platforms that handle some or all of the work involved in preparing a tax return without manual intervention. Modern systems typically ingest source documents such as W-2s, 1099s and K-1s, classify them, extract the underlying figures, apply federal and state tax-code rules, and route the completed return into a firm's existing review software. Newer entrants use artificial intelligence to handle the full preparation lifecycle for complex returns. **Q: Will AI replace CPAs?** Final sign-off on a tax return is still done by a qualified accountant. Vendors selling AI tax preparation tools, including Black Ore, position the technology as a way for firms to serve more clients with the same headcount, not as a replacement for the accountant. The deeper problem the industry is responding to is a shortage of CPAs entering the profession, which is why most large firms are testing AI tools. **Q: How are CPA firms using AI?** The earliest and most developed use of AI in CPA firms is in tax return preparation, where vendors such as Black Ore, Basis and Aiwyn are running pilots with the largest US accounting firms. Other applications include audit work, document review and client communication. Adoption has accelerated since 2024 in response to the shortage of qualified accountants and the long hours associated with tax season.