How Anrok raised $20M to build the modern sales tax solution

By Michelle Valentine - CEO & Co-founder

Kannan and I started Anrok because we felt we’d uncovered a universal problem faced by every software company: More Internet businesses are subject to sales tax than ever before. Often in new ways that are both difficult to monitor, as well as difficult to solve. Compliance is now the norm, and it costs businesses real money. 

That’s why we set out to build the modern sales tax solution, tailored specifically for SaaS. Our vision was to create a way for businesses to easily connect their various billing and payment systems and monitor where they have exposure - all for free. Finance leaders should know exactly where the company stands on compliance, what revenue is at stake, and never pay a dime out of pocket on sales tax. And when the time comes, automating the complexities of calculation, filing, and remittance is a simple switch to flip. Enter Anrok.

In less than two years, we’ve built the most comprehensive solution, adopted by some of the most cutting edge SaaS companies and teams today, such as Airbase, AgentSync, Front, Gem, Persona, Productboard, and Vanta. 

Today, we’re excited to announce our existing investors are doubling down. Anrok has raised a $20 million A round co-led by Index Ventures and Sequoia.

We know that running a software business is more complex than ever. Companies have gone from worrying about compliance in only one or two states to dozens, with more added all the time. Competition is fierce and ARR growth is the north star.

Anrok is future-proofing revenue and addressing the new demands on companies in a unique way. Some benefits of the platform that our customers are particularly excited about and help them operate with confidence across borders, include:

  • Track whether your product is taxable in places you have remote employees

  • Initiate state registrations from within the platform

  • Estimate tax using our calculator configured specifically for your product suite

  • Enterprise-grade reporting and jurisdiction specific returns

I want to thank all of our customers for trusting Anrok and working together to navigate the new demands placed on software companies. I am grateful to Mark Goldberg at Index Ventures and Bryan Schreier at Sequoia for believing in our mission from day one. Thank you to our angel investors who go out of their way to help make a difference to the business. 

And above all, thank you to the Anrok team for moving mountains to realize our vision. If you want to join us on the journey - we’re hiring! There is much more to do and we’re excited for what’s next.

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