Solomon Labs Secures $4.67 Million in Seed Funding, Reaches $14.5 Million in Total Investments

Dunamu & Partners and Base Ventures Join Investment Round

Solomon Labs announced on August 13 that it has finalized its seed funding round, securing an investment of $4.67 million (6.5 billion KRW) from Dunamu & Partners and Base Ventures.

With this round, the company’s total seed funding has reached $14.5 million (20.3 billion KRW). Solomon Labs stated, “This is an exceptionally large amount for an early-stage startup.”

Solomon Labs logo. Solomon Labs

This round was conducted as part of the same round as last month’s investment from U.S. venture capital firm Bessemer Venture Partners. As a result, Solomon Labs has earned the trust of global VCs in both the United States and South Korea within just over a year since its founding. Notably, Base Ventures made an additional investment in this round, following its initial investment in November last year.

Founded last year and headquartered in New York, Solomon Labs is an artificial intelligence (AI) agent company that offers an automated tax filing solution called “Solomon AI.” Within six months of launching the service, the company achieved an annual recurring revenue (ARR) of $1 million, with a goal of reaching $3 million by the end of the year.

With the newly raised funds, Solomon Labs plans to enhance its product competitiveness by advancing its AI sub-classification models, improving the user interface (UI), and expanding to cover a wider range of tax items-including student loans-and additional states. In the long term, the company also aims to introduce features for data-driven tax filing optimization and personalized tax-saving strategy recommendations.

Lim Sujin, Partner at Dunamu & Partners, commented, “Solomon Labs is a team that possesses both technological differentiation and a deep understanding of the market in the field of tax automation through AI. We expect the company to drive rapid expansion in the U.S. market and lead innovation in accounting firm operations.”

Lee Kigyeong, CEO of Solomon Labs, stated, “The investment from Dunamu & Partners and Base Ventures, leading VCs in Korea, is a recognition of Solomon Labs’ technological capabilities and its ability to address market challenges. We will continue to broaden the scope of tax AI automation to help more accounting firms deliver high-quality services.”

This content was produced with the assistance of AI translation services.