Avalara, Inc., a Bainbridge Island, WA-based provider of cloud-based software for sales tax and other transactional tax compliance, raised $100m in funding.
An affiliate of Warburg Pincus, a global private equity firm focused on growth investing, made the commitment. In conjunction with the transaction, Justin Sadrian, Managing Director at Warburg Pincus, joined Avalara’s board of directors.
The company, which has raised more than $200m in capital since 2004, intends to use the funds for growth initiatives including international expansion and strategic acquisitions, which will extend its tax content, product and service offerings, customer base, cross-selling opportunities, and geographic reach.
Led by Scott McFarlane, founder and CEO, Avalara provides a cloud-based software platform for sales and other transactional taxes, such as VAT and excise tax. Its suite enables businesses of all sizes to automate the process of determining taxability, identifying applicable tax rates, calculating taxes, preparing and filing returns, remitting taxes, maintaining tax records, and managing tax exemption certificates.
The company currently employs more than 800 people at its headquarters on Bainbridge Island and in offices across the U.S. and in London, England and Pune, India.
It is backed by Sageview Capital, Battery Ventures, Warburg Pincus, Arthur Ventures, and other institutional and individual investors.