Anrok, a global sales tax platform for software companies, announced it has raised $30 million in a Series B funding round led by Khosla Ventures. The participants also included Sequoia Capital, Index Ventures, and others, including Karen Peacock (former CEO of Intercom), David Faugno (former CFO of Qualtrics and current president of 1Password), Alex Estevez (former CFO of Atlassian), and Elad Gil. This funding round will enable the company to power global tax compliance in a world of digital products and services.
Anrok solves sales tax problems for hundreds of software companies with an end-to-end solution for monitoring, calculating, collecting, and filing taxes. And in the past year, the company expanded its platform with a reconciliation tool, advanced tax exemption certificate management, and VAT and GST compliance support in every country that taxes remote sellers of software or digital products.
Built by a team of tax experts—with experience at Deloitte and EY, among others—top tech companies trust Anrok’s platform to navigate complex sales tax challenges. And the company managed compliance for over $7 billion of revenue in the past year alone.
With this new funding round, the company will keep investing in R&D and product development to continue building the all-in-one global tax compliance platform for modern finance teams.
KEY QUOTES:
“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. I’m excited to scale Anrok’s operations and continue to serve the evolving needs of finance teams worldwide.”
– Michelle Valentine, co-founder and CEO of Anrok
“Anrok is an essential part of the financial stack of the world’s best SaaS and AI companies. We’re thrilled to support Anrok’s mission of simplifying and automating sales tax compliance for software companies and digital services.”
– Ethan Choi, partner at Khosla Ventures
“As a fast-growing software company, Gem’s customers are spread across the globe. We thought getting to compliance would be a long and expensive journey. With Anrok, the path was simple. Anrok helps us manage risk more effectively, and avoid surprise hits to our bottom line.”
– Temi Vasco, Controller at Gem
