Demand to Simplify Sales Tax Process Leads to 1,799 Percent Revenue Growth
BAINBRIDGE ISLAND, WA – Oct. 25, 2011– Avalara has ranked #68 on Deloitte’s Technology 2011 Fast 500™ ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Avalara grew 1,799 percent from fiscal year 2006 to 2010.
Scott McFarlane, Avalara’s founder and chief executive officer, credits the company’s exceptional growth to increased demand from small to mid-sized businesses looking for convenient, reliable solutions to ease the burden of statutory tax requirements. “There’s a clear need to simplify this complex business requirement, and Avalara intends to fill it through ongoing innovation of sales tax automation,” said McFarlane.
“The discussions surrounding sales tax collection often miss an important point: it’s simple to add sales tax automation to the business process,” said McFarlane. “Avalara aspires to make tax compliance attainable for all by providing a fast, easy way to calculate and remit indirect taxes that is as accurate and affordable for small and mid-sized businesses as it is for large corporations. We’re proud to lead the way in making sales tax less taxing with a service that connects easily into major financial, POS and ecommerce applications.”
“Avalara, like all 2011 Technology Fast 500™ companies, has excelled in fostering innovation and channeling it into spectacular growth — against the backdrop of one of the most challenging economies in history,” said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. “Deloitte recognizes Avalara for its remarkable accomplishment.”
“We’re pleased to honor Avalara as a 2011 Technology Fast 500 company,” said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. “As one of the fastest growing tech companies in North America, Avalara has demonstrated excellence in technological innovation, entrepreneurship and rapid growth.”
This is the second consecutive year Avalara ranked as a Technology Fast 500™ award winner. Earlier this month Avalara also ranked on the Puget Sound Business Journal’s 2011 Fastest-Growing Private Companies list, which honored Washington state firms that achieved the highest net revenue growth over the past three years. It is the fourth consecutive year Avalara ranked as a PSBJ Fastest-Growing Private Company award winner.
About Deloitte’s 2011 Technology Fast 500™
Technology Fast 500, which was conducted by Deloitte & Touche LLP, a subsidiary of Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2006 to 2010. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
Avalara (www.avalara.com) is the pioneer and nation’s leader in the automated sales tax service arena. Avalara’s integrated, cloud–based products and services make it easy for businesses of all sizes to calculate rates, manage exemption certificates, and file and remit state sales taxes. AvaTax, Avalara’s primary Software-as-a-Service, provides the fastest, easiest and most complete automated compliance solutions available.
Founded in 2004, Avalara is a privately-held company that employs more than 225 professionals at its headquarters on Bainbridge Island, WA and offices in Seattle; Irving, San Diego and Rocklin CA; Falls Church, VA and Pune, India.
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