Avalara secures USD 100 mln in funding round

Wednesday 12 November 2014 10:30 CET | News

Avalara, a provider of sales tax and compliance automation services, has raised USD 100 million in a financing round from an affiliate of Warburg Pincus, a global private equity firm focused on growth investing.

Avalara delivers an array of compliance solutions related to sales tax and other transactional taxes, such as VAT and excise tax. Its end-to-end suite of solutions 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’s growth initiatives include international expansion and strategic acquisitions, which will extend the company’s tax content, product and service offerings, customer base, cross-selling opportunities, and geographic reach.

Including this investment by Warburg Pincus, Avalara has raised more than USD 200 million in capital since 2004 from a list of investors that includes Sageview Capital and Battery Ventures, as well as other entities and individuals.

Avalara’s SaaS-based, sales tax and compliance automation software solutions span the compliance spectrum. Avalara is integrated with ERP and ecommerce software systems that serve small to medium sized businesses (SMBs). Founded in 2004 and privately held, Avalaras venture capital investors include Battery Ventures, Sageview Capital and other institutional and individual investors.

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Keywords: Avalara, Warburg Pincus, funding round, sales, tax, compliance, automation, VAT, filing returns, remitting taxes
Categories: Banking & Fintech
Countries: World
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Banking & Fintech