Saturday, May 18, 2024
HomeFunding CA-based Anrok Secures $30Million in Series B Round Funding

[Funding alert] CA-based Anrok Secures $30Million in Series B Round Funding

Anrok, a software company that offers a sales tax platform, has raised $30 million in a series B fundraising round. Khosla Ventures led the funding round, with participation from Sequoia Capital, Index Ventures, and other investors like Elad Gil, former CEO of Intercom Karen Peacock, David Faugno, current president of 1Password and previous CFO of Qualtrics, and Alex Estevez, former CFO of Atlassian.

Anrok, a software company that offers a sales tax platform, has raised $30 million in a series B fundraising round. Khosla Ventures led the funding round, with participation from Sequoia Capital, Index Ventures, and other investors like Elad Gil, former CEO of Intercom Karen Peacock, David Faugno, current president of 1Password and previous CFO of Qualtrics, and Alex Estevez, former CFO of Atlassian.

To continue developing the platform, the company plans to use the money to spend in R&D and product development.

It, under the direction of CEO Michelle Valentine, offers a worldwide sales tax platform for digital and software goods. Modern finance teams, from startups to large corporations, utilise Anrok to track their exposure, compute and collect the appropriate taxes, file and pay, and report for audit readiness – all on a single, integrated platform.

Read also – NYC-based Monad Labs Secures $225Million in Series A Round Funding

The company has added a reconciliation tool, sophisticated tax exemption certificate management, and support for VAT and GST compliance in all nations that impose taxes on distant sales of software or digital goods to its platform throughout the last year.

Innovative firms like Notion, Vanta, and Anthropic use Anrok to manage compliance globally and safeguard their bottom line. In the past year alone, Anrok has handled compliance for over $7 billion in revenue.

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.”

About Anrok

Anrok is the cutting-edge sales tax solution. Finance executives can quickly and simply track, compute, and send taxes across any financial stack with Anrok.

Businesses can eliminate needless expenditures related to sales tax and VAT by automating manual labour and integrating their payroll, invoicing, and payment systems into a unified platform for tax compliance. Consider monitoring workers who work remotely.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular