Sales tax compliance platform Anrok has secured $55m in its Series C financing round, which was spearheaded by Spark Capital.
Sapphire Ventures also participated in the round with contributions from existing backers Sequoia Capital, Khosla Ventures, and Index Ventures.
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The new funding increases Anrok’s total capital raised to more than $100m, which will be instrumental in advancing the company’s mission to simplify global sales tax compliance through AI-powered automation.
The influx of capital is expected to expedite the development of Anrok’s product partnerships, foster advancements in sales tax compliance automation, and enable the company to increase its investment in AI research and development.
Anrok currently caters to more than 3,000 finance professionals worldwide, with a client roster that includes names such as Anthropic, Cursor, and Notion.
The company, which was established in 2020 and is based in San Francisco, serves a diverse range of clients within the digital economy, from AI and software-as-a-service (SaaS) providers to online marketplaces and hardware manufacturers.
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By GlobalDataAnrok co-founder and CEO Michelle Valentine stated: “Anrok powers compliance for some of the fastest growing AI companies worldwide.
“We’re building the tax infrastructure that can keep up with the pace and scale of their demand, and allow customers to focus on growing their business across borders.”
The company’s approach integrates AI with the expertise of professionals.
The AI component is responsible for streamlining routine tasks, while human oversight is maintained to ensure the integrity and accuracy of the compliance documentation required for audits.
Anrok provides a range of services to its clients, including the monitoring of tax obligations, precise tax calculations, assistance with tax filings and payments, and the preparation of reports that are ready for audit, covering more than 100 countries.
