Blog
K1x Announces Strong 2022-Q4 Performance
BY Scott Turner
August 10
Revenue growth driven by product innovation and customer focus
K1x, the leading data distribution platform for alternative investments, announced new executive staff, record-breaking customer growth, and strengthened market leadership with new product innovation.
In Q4 of 2022, K1x hired more than 20 new employees in product, engineering, customer success, and other areas, and brought on Ken Powell as Chief Revenue Officer and Scott Turner as SVP Marketing to round out their management team. This helped K1x continue to lead the alternative investment data distribution industry, providing its customers with cutting-edge solutions that make the management of alt investment data management easier, more efficient, and more effective.
Ken Powell, CRO at K1x, emphasized the challenges that tax and compliance professionals face in today’s market. He said, “As they struggle to meet the needs of investors and the IRS, today’s tax and compliance professionals face a perfect storm of changing regulatory demands, historic staffing constraints, skyrocketing volumes of tax forms, and ineffective spreadsheets. Only K1x can help them streamline and automate away the pain of producing, receiving, and filing 990s, K-1s, and related forms.”
“This remarkable technology not only gives nights and weekends back to advisors, it also gives investors in alternative assets more timely and accurate estimates of tax liability and a view of their after-tax ROI.”
Scott Turner, SVP Marketing at K1x, added, “K1x accelerates the last mile of the alternative investment data exchange. Our industry-leading platform frees advisors from tedious, manual data entry, unleashing their talent towards high-value strategy work that benefits investors with timely and transparent information. This remarkable technology not only gives nights and weekends back to advisors, it also gives investors in alternative assets more timely and accurate estimates of tax liability and a view of their after-tax ROI.”
In Q4 of 2022, K1x released K-1 Navigator, a product that 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 is perfect for private equity, venture capital, hedge funds, REITs, professional services firms, and other K-1 producers. It provides user-friendly workflows for seamless investor demographic collection and K-1 production and distribution, tax logic, automated investor data collection, and a time-saving footnote library with integrations to popular e-filing software.
K1x’s product innovation, commitment to client success, and cutting-edge solutions have resulted in record growth in Q4 of 2022. K1x is now trusted by more than 6,000 companies, including 20 of the top 100 largest institutional investors in the US, 25 of the top 100 accounting firms, 19 of the top 25 university endowments, 7 of the top 40 health systems, and 10 of the top 50 private foundations and family offices. K1x’s solutions are also being utilized by top wealth management and law firms.
8,000+
companies trust K1x
Scott Schitter, VP of Tax at Bon Secours Mercy Health, praised K1x for its impact on their operations.“Before we had K1x, we relied on huge spreadsheets to prepare our tax-exempt returns. We needed to find a way to make tax prep more efficient on our exempt side. Now it’s easy to set up new entities, gather and store information, prepare returns, and manage the entire tax-exempt return preparation process. Everybody on our team enjoys the K1x solution. It’s made our whole process so much more efficient, and it’s great that K1x has exempt experts on staff.”
K1x’s strong performance in Q4 of 2022 positions it as a leader in alternative investment data distribution, with a commitment to continued innovation and client success.