Thursday, September 22, 2016

Avalara Raises $50M In New Funding

Seattle-based Avalara announced this morning that it has raised $50M in new funding, for its tax compliance automation software. The funding came from Warburg Pincus, Sageview Capital, Technology Crossover Ventures (TCV), and others, and came alongside another $46M in purchases from Avalara's existing shareholders. The total transaction size was $96M. The company said the $50M will go to fund gowth and acquisitions. Avalara says it has now raised more than $300M in capital since 2004. Avalara is led by Scott McFarlane, and develops software used by companies to deal with the myriad of tax rules for different countries, states, and counties.