Anrok Raises $30m To Be The Tax Compliance Infrastructure Behind The Digital Economy

By Author: otis
Total Articles: 386
Comment this article

Anrok, a leading provider of sales tax compliance solutions for software companies on a global scale, recently closed a $30 million Series B funding round. Khosla Ventures led the round, joined by Sequoia Capital, Index Ventures, and notable individuals including Karen Peacock, David Faugno, Alex Estevez, and Elad Gil. This funding injection will enable Anrok to further enhance its platform, allowing it to offer comprehensive tax compliance solutions for digital products and services in the ever-evolving digital economy.

Michelle Valentine, Anrok's co-founder and CEO, emphasized the need for a robust enterprise-grade solution to handle the intricacies of global revenue and compliance in the digital economy. Anrok's goal is to streamline and automate sales tax compliance for software companies and digital services worldwide.

Anrok's platform provides a complete suite of tools for monitoring, calculating, collecting, and filing taxes, addressing the sales tax complexities encountered by numerous software companies. In the past year, Anrok has expanded its platform to include a reconciliation tool, advanced tax exemption ...
... certificate management, and support for VAT and GST compliance in all countries that tax remote sellers of software or digital products.

Ethan Choi, a partner at Khosla Ventures, underscored Anrok's importance in the financial infrastructure of leading SaaS and AI companies. He expressed Khosla Ventures' enthusiasm in supporting Anrok's mission and dedication to simplifying sales tax compliance.

Anrok's platform, developed by a team of tax experts with backgrounds at Deloitte and EY, is relied upon by major tech companies to navigate intricate sales tax challenges. The platform has handled compliance for over $7 billion in revenue in the past year alone. Companies like Notion, Vanta, and Anthropic trust Anrok to handle compliance globally and safeguard their financial interests.

Temi Vasco, Controller at Gem, a rapidly growing software company, commended Anrok for streamlining their compliance journey. Anrok's platform assists Gem in managing risk effectively.

Read More - https://www.techdogs.com/tech-news/business-wire/anrok-raises-30m-to-be-the-tax-compliance-infrastructure-behind-the-digital-economy