CoinTracker, a San Francisco-based cryptocurrency portfolio and tax manager, has raised $1.5 million from a number of prominent investors, CoinDesk reported.

The round was led by Initialized Capital and drew support from Y Combinator, Protocol Labs founder and FileCoin creator Juan Benet, and Gmail creator Paul Buchheit.

Founded in August 2017, CoinTracker aims to make crypto assets more accessible, easier to user, and simpler for mainstream audience, CoinTracker co-founder Chandan Lodha told CoinDesk. He said that the company was born out of his and co-founder Jon Lerner's frustration with tracking crypto investments.

CoinTracker allows users to securely auto-sync their transactions so they never have to manually enter a trade again.

More recently, the company introduced a tax feature in order to further simplify investors’ experience.

The new tool "parses all the different trades and transactions you have and actually outputs a filled-out IRS Form 8949," Lodha said. “It saves people a lot of hassle.”

Lodha said that while the company’s journey started with simplifying dealing with crypto tracking and taxes, he expects to do the same to other areas as well. The co-founders intend to use the new funding toward achieving this goal, starting with their team’s expansion to include more full-stack developers.