Avalara, Inc., a Seattle, WA-based cloud provider of tax compliance automation for businesses of all sizes, raised approximately $50m in growth capital.
Existing shareholders including Warburg Pincus, Sageview Capital, Technology Crossover Ventures (TCV), and others invested a total of $96m in Avalara, approximately $50m of which will be used to fund growth and acquisitions.
The remainder was used to repurchase shares from early investors.
Led by Scott McFarlane, founder and CEO, Avalara provides businesses of all sizes with a cloud-based platform to achieve compliance with transactional taxes, including VAT, sales and use, excise, communications, and other types.
The company offers pre-built connectors into accounting, ERP, ecommerce and other business applications and – each year – processes billions of tax transactions for customers and users, files hundreds of thousands of tax compliance documents and tax returns, and manages millions of exemption certificates and other compliance related documents.
Since 2004, Avalara has raised more than $300m with venture capital investors including Sageview Capital, Battery Ventures, Warburg Pincus, Technology Crossover Ventures, Arthur Ventures, and other institutional and individual investors.
The company also has offices across the U.S. and in Brighton and London, England; Brussels, Belgium; and Pune, India.
FinSMEs
22/09/2016