Anrok, a San Francisco, CA-based sales tax solution built specifically for software-as-a-service (SaaS) businesses, raised $4.3M in seed funding. The round was co-led by Index Ventures and Sequoia Capital.
The company intends to use the funds to continue to expand operations and its business reach.
Round: Seed Round
Funding Month: June 2021
Lead Investors: Index Ventures and Sequoia Capital
Company Website: https://anrok.com/
Software Category: Modern Sales Tax Solution
About the Company: Anrok provides a platform that allows internet businesses to determine, calculate, and manage sales tax obligations. Anrok plugs into a company’s billing and payment systems, incorporating each state’s nexus thresholds and taxability rules in real-time, and returning the relevant tax rate of each transaction. Transactions are then stored and automatically organized into returns for filing – an obligation which has increased from virtually never, to what is now a monthly requirement in many states.