Anrok, a San Francisco, CA-based provider of a sales tax platform for software companies, raises $30M in Series B funding.
The round was led by Khosla Ventures, with participation from Sequoia Capital, Index Ventures, and others including Karen Peacock, former CEO of Intercom, David Faugno, former CFO of Qualtrics and current president of 1Password, Alex Estevez, former CFO of Atlassian, and Elad Gil.
The company intends use the funds to keep investing in R&D and product development to continue building the platform.
Led by CEO Michelle Valentine, Anrok provides a global sales tax platform for software and digital products. From startups to the enterprise, modern finance teams use Anrok for monitoring their exposure, calculating and collecting the right tax, filing and remittance, and reporting for audit-readiness – all in one unified platform. In the past year, the company has expanded its platform with a reconciliation tool, advanced tax exemption certificate management, and support for VAT and GST compliance in every country that taxes remote sellers of software or digital products.
Anrok managed compliance for over $7 billion of revenue in the past year alone, and innovative companies like Notion, Vanta, and Anthropic use it to manage compliance worldwide and protect their bottom line.
Commenting on the news, Michelle Valentine said: “Software companies are global from day one. When you look at the complexities required to manage recurring revenue and compliance, it is clear the digital economy needs a dedicated enterprise-grade solution.”
FinSMEs
12/04/2024