This news comes on the heels of its Series A round. The funding will help the company enhance its product suite and hire more talent. Here are the top-line bullets you need to know.
Anrok, a SaaS sales tax solution, has raised $20M in a Series A. The round drew participation from Index Ventures and Sequoia Capital.
HOW’S THE COMPANY PERFORMING?
- California-based Anrok unifies sales tax monitoring, calculation, and payments processes across the enterprise financial stack.
- Anrok’s revenue has increased 7x over the past 6 months, and its team size has more than doubled.
- The company’s client base includes Airbase, AgentSync, Front, Gem, Persona, Productboard, and Vanta.
- The startup operates in the US and has teams in San Francisco, Texas, Colorado, and Washington, among other locations in the US.
Source: Anrok
WHY DOES THE MARKET MATTER?
- The global sales tax software market is expected to reach a value of $13.1B by 2027, growing at a CAGR of 8.8%, according to The Insight Partners.
- Continuously changing tax laws and regulations have increased the demand for sales tax software.
- The adoption of sales tax software has risen across a number of industries, including retail, technology, telecom, transportation, and healthcare.
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