Additional investment from Battery Ventures, Sageview Capital will fund continued growth
Bainbridge Island, WA – February 12, 2014 – Avalara Inc., (www.avalara.com), a leading cloud-based sales tax and compliance technology provider, today announced it has raised $30 million in a financing round led by existing investors Battery Ventures and Sageview Capital. Including this round, Avalara has raised more than $100 million in funds since its founding in 2004. Investors have included Battery, Sageview, and other organizations and individuals.
Avalara pioneered a web-based compliance platform for sales tax automation nearly a decade ago and now provides a complete set of transactional tax compliance services for businesses of all sizes. Today its SaaS solution integrates into numerous ERP systems, accounting packages, ecommerce shopping carts, Point of Sale systems, and mobile payment platforms.
Avalara Founder and CEO Scott McFarlane said, “Avalara is proud of its growth and excited about completing this latest financing round. This investment should help extend our technology and integration capabilities and support growth.”
Last year Avalara added and certified dozens of additional Development and Solution partners, further expanding its list of more than 300 pre-built integrations with leading financial, accounting, and ecommerce systems. Additionally, Avalara once again was acknowledged as one of the fastest growing companies in North America via its inclusion on Deloitte’s 2013 Technology Fast 500™, a list of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Avalara earned this recognition by growing fiscal year revenue over 400 percent from 2008 to 2012.
Avalara makes sales and VAT tax compliance simple and automatic for thousands of customers worldwide every day. Each year its SaaS-based, sales tax and compliance automation software solutions deliver billions of tax decisions, manage millions of exemption certificates, file hundreds of thousands of sales tax returns, and remit billions of tax dollars to states nationwide.
Recognized as one of America’s fastest growing technology companies, Avalara is integrated with leading ERP and ecommerce software systems that serve millions of businesses worldwide. Founded in 2004 and privately-held, Avalara’s venture capital investors include Battery Ventures, Sageview Capital and other institutional and individual investors. Avalara employs more than 500 people at its headquarters on Bainbridge Island, WA and in offices across the U.S. and in London, England and Pune, India. More information at: www.avalara.com.