NEW YORK–(BUSINESS WIRE)–Onshore (formerly SPRX), the AI-powered tax platform now operating under a new corporate name, today announced 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.

Every year, more than $200 billion in tax incentives go unclaimed or misfiled. Not because the tax code is broken, but because the system built around it is. Traditional providers rely on manual reviews, inconsistent documentation standards, and outdated interpretations of IRS guidance, leading to long timelines and incomplete credit identification.

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

“I spent years at a top ten firm and quickly learned that traditional tax services were designed for billable hours, not outcomes,” said Dominic Vitucci, founder and CEO of Onshore. “Too many providers rely on sampling and outdated processes.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.”

Traditional tax providers often rely on statistical sampling to estimate R&D credits. Each qualified research activity must ultimately be substantiated at the business-component level, and sampling errors can expose companies to audit risk or incomplete claims.

Onshore instead conducts detailed business-component analysis, delivering more comprehensive studies in as little as 28 days. Each study is documented to IRS standards, with full traceability from source data to qualified expenditures.

The result: 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 fully audit-ready reports.

More than 500 companies across technology, energy, manufacturing, architecture, and agriculture have used Onshore 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

This funding accelerates Onshore’s evolution beyond tax credits, expanding its platform to automate the financial and accounting workflows that underpin corporate compliance and reporting. It marks the next phase of rebuilding the systems behind tax and professional services.

“Onshore isn’t just modernizing tax, they’re setting a new standard for an industry that’s left $200 billion on the table,” said Wesley Chan, co-founder and Managing Partner at FPV Ventures. “We back founders who are dedicated to solving problems they know better than anyone else and are leveraging AI in ways that once weren’t possible to build category-defining products. We believe Onshore is proof that the most broken systems create the biggest opportunities.”

About Onshore

Onshore (formerly SPRX) is an AI-powered tax platform that combines intelligent automation with expert oversight to help businesses unlock, optimize, and defend complex incentives including the R&D Tax Credit, 179D Deduction, and Cost Segregation studies.

Founded in 2020 and based in New York, Onshore serves businesses across industries and is backed by FPV Ventures, Vertex Ventures, ADP Ventures, Y Combinator, and Restive Ventures.

Contacts

Tiffany Go
Head of Marketing, Onshore
Phone: 855-958-5740
Email: tiffany.go@onshore.com

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