The funding comes on the heels of global expansion and rapid customer growth

April 11, 2024 09:08 AM Pacific Daylight Time

SAN FRANCISCO–(BUSINESS WIRE)–Anrok, the global sales tax platform for software companies, has raised $30 million in a Series B funding round led by Khosla Ventures, with participation from 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 will further enable the company to power global tax compliance in a world of digital products and services.

“We’re thrilled to support Anrok’s mission of simplifying and automating sales tax compliance for software companies and digital services.”

“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,” said Michelle Valentine, co-founder and CEO of Anrok. “I’m excited to scale Anrok’s operations and continue to serve the evolving needs of finance teams worldwide.”

Anrok solves the sales tax problem for hundreds of software companies with an end-to-end solution for monitoring, calculating, collecting, and filing taxes. In the past year, the company has expanded its platform with a reconciliation tool, advanced tax exemption certificate management, and support for VAT and GST compliance in every country that taxes remote sellers of software or digital products.

“Anrok is an essential part of the financial stack of the world’s best SaaS and AI companies,” said Ethan Choi, partner at Khosla Ventures. “We’re thrilled to support Anrok’s mission of simplifying and automating sales tax compliance for software companies and digital services.”

Built by a team of tax experts—with experience at Deloitte and EY, among others—Anrok’s platform is trusted by top tech companies to navigate complex sales tax challenges. The company managed compliance for over $7 billion of revenue in the past year alone, and innovative companies like Notion, Vanta, and Anthropic rely on Anrok to manage compliance worldwide and protect their bottom line.

“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,” says Temi Vasco, Controller at Gem. “With Anrok, the path was simple. Anrok helps us manage risk more effectively, and avoid surprise hits to our bottom line.”

With this new funding, 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.

About Anrok:

Anrok is the global sales tax platform for software and digital products. From startups to the enterprise, modern finance teams choose Anrok for monitoring their exposure, calculating and collecting the right tax, filing and remittance, and reporting for audit-readiness – all in one unified platform.

Based in San Francisco, CA, Anrok has raised $55 million from the world’s top investors – including Khosla Ventures, Index Ventures, and Sequoia Capital. Learn more at anrok.com.

Contacts

Media:
Devon Watts
press@anrok.com

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