Anrok, a San Francisco, CA-based sales tax solution for software-as-a-service (SaaS) businesses, announced $20 million in Series A funding to help software companies manage sales tax end-to-end and maximize future revenue potential.
The funding was led by Index Ventures and Sequoia, with a valuation north of $100 million.
With this capital, Anrok will further extend its product offering for customers, expand its team, and further the vision of being the audit source of truth for the internet economy.
Company: Anrok, Inc.
Raised: $20.0M
Round: Series A
Funding Month: March 20222
Lead Investors: Index Ventures and Sequoia Capital
Additional Investors:
Company Website: https://anrok.com/
Software Category: Modern Sales Tax Solution
About the Company: Anrok is the modern sales tax solution for SaaS businesses, Anrok’s end-to-end platform gives SaaS businesses everything they need to manage sales tax out of the box. From monitoring sales and transactions against state-specific thresholds as well as tracking how remote employees impact their sales tax exposure, finance leaders can be automatically alerted when new obligations emerge. Its highly automated solution enables businesses to register in new states directly within the platform, saving hours of time and linking registration workflows with when sales tax collection begins. Industry-leading companies such as Airbase, AgentSync, Front, Gem, Persona, Productboard, and Vanta rely on Anrok to monitor sales tax exposure, calculate sales tax across their invoicing tools, and file and remit on their behalf.
Source: https://www.businesswire.com/news/home/20220301005403/en/Anrok-Raises-20M-in-New-Funding-to-Help-SaaS-Companies-Manage-Sales-Tax-on-Software
https://anrok.com/resources/blog/announcing-our-$20-million-a-round