Total amount raised
$54.3 Millions
Latest funding date
4/1/2024
Location
Anrok has successfully raised $30 million over multiple funding rounds, achieving a valuation of $250 million. The platform offers a comprehensive sales tax solution for SaaS businesses, automating compliance across various financial systems.
Keep reading to explore the intricacies of Anrok's fundraising journey and the investors backing this innovative platform.
What Is Anrok?
Founded in 2020, Anrok is based in San Francisco, California. The company specializes in providing a comprehensive sales tax solution tailored for SaaS businesses, automating compliance across various financial systems.
Co-founded by Kannan Goundan and Michelle Valentine, Anrok has quickly established itself as a key player in the sales tax automation space. The platform unifies sales tax monitoring, calculation, and remittance, helping finance teams manage their tax obligations efficiently.
With a team of 51-100 employees, Anrok continues to innovate and expand its offerings, ensuring that businesses can navigate the complexities of sales tax compliance with ease.
How Much Funding Has Anrok Raised?
- Seed Round
- Amount Raised: $4.3M
- Date: June 2021
- Lead Investors: Index Ventures, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their sales tax compliance platform.
- Series A
- Amount Raised: $20M
- Date: March 2022
- Lead Investors: Index Ventures, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and scale operations.
- Series B
- Amount Raised: $30M
- Date: April 2024
- Lead Investors: Khosla Ventures
- Valuation at Round: $250M
- Motivation Behind the Round: To enhance its position as the tax compliance infrastructure behind the digital economy.
Total amount raised: $54.3M. Current valuation: $250M.
Key Investors
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that provides funding for early-stage companies. Founded by Vinod Khosla, the firm is known for its focus on transformative technologies.
- Investment Focus Areas: Technology, healthcare, clean technology
- Notable Investments: Square, DoorDash, Impossible Foods
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that invests in seed, early, and growth-stage companies. It has a long history of backing successful startups.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Apple, Google, Airbnb
- Index Ventures
- Details: Index Ventures is a venture capital firm that invests in technology-enabled companies. The firm has offices in London, San Francisco, and Geneva.
- Investment Focus Areas: Technology, life sciences
- Notable Investments: Dropbox, Slack, Robinhood
- Karen Peacock
- Details: Karen Peacock is the CEO of Intercom and a notable individual investor. She has extensive experience in scaling SaaS companies.
- Investment Focus Areas: SaaS, customer engagement, technology
- Notable Investments: Not publicly disclosed
- Elad Gil
- Details: Elad Gil is a serial entrepreneur and angel investor. He has been involved in numerous successful startups and is known for his expertise in scaling companies.
- Investment Focus Areas: Technology, healthcare, consumer internet
- Notable Investments: Airbnb, Stripe, Square
What's Next for Anrok?
Anrok's future looks promising as it continues to expand its platform with new features like a reconciliation tool and advanced tax exemption certificate management. The company is poised to support VAT and GST compliance globally, addressing the evolving needs of finance teams worldwide. With the digital economy's increasing complexity, Anrok's solutions are more relevant than ever.
Given the successful Series B round and the involvement of high-profile investors, future fundraising opportunities seem likely. The company may also explore strategic acquisitions to enhance its platform and expand its market presence. However, navigating the complexities of global tax compliance and keeping up with evolving regulations will be ongoing challenges.
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