Numeral, an AI-powered indirect tax compliance platform, has raised $100m in a Series C funding round led by Insight Partners.
Benchmark, FCVC, Geodesic, Mayfield, Salesforce Ventures, Uncork and Y Combinator also participated in the round, Numeral said.
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The fundraising follows a $35m Series B round completed in September last year.
The San Francisco-based company provides sales tax, VAT and goods and services tax (GST) compliance services. According to its website, Numeral serves more than 3,500 companies including e-commerce brands and start-ups.
Numeral plans to use the new funding to accelerate product development and expand its offering for software, manufacturing, distribution and wholesale businesses. It also intends to hire across engineering, sales, marketing and product roles.
Numeral co-founder and CEO Sam Ross said: “Sales tax has become a much bigger operational challenge as companies grow across markets, systems and business models.
“Businesses need infrastructure that can keep pace as rules and requirements change across jurisdictions, without adding more manual work for their teams. We are building Numeral to provide that foundation, backed by tax expertise and service that customers can rely on.”
Founded in 2023, Numeral offers sales tax compliance services including exemption certificate management, filings, nexus monitoring, registrations, remittance and tax calculation. The company also supports VAT and GST compliance.
Insight Partners managing director Rebecca Liu-Doyle said: “Sales tax is mission-critical to get right, and the complexity is only growing as regulations expand into new products and markets.
“We tracked this space closely and saw Numeral consistently deliver – customers repeatedly pointed to the company’s reliability, accuracy and high level of service.
“With AI enabling the team to bring sophisticated tax and compliance infrastructure within reach of businesses that previously lacked access, Numeral has a strong foundation for continued growth, and we are excited to back them through this next stage.”
Numeral added that it is also expanding its relationships with accounting practices through a partner programme.
