Anrok, a leading global sales tax platform tailored for software companies, has successfully closed a $30 million Series B funding round.

The round was spearheaded by Khosla Ventures and saw contributions from heavyweight investors such as Sequoia Capital and Index Ventures.

Notably, the round also attracted individual investments from industry veterans like Karen Peacock, David Faugno, Alex Estevez, and Elad Gil.

Michelle Valentine, the co-founder and CEO of Anrok, expressed her enthusiasm about the company’s growth prospects.

“As software companies inherently operate on a global scale from inception, the need for a robust, enterprise-grade solution to handle the intricacies of recurring revenue and compliance is evident,” she stated.

Valentine is poised to scale Anrok’s operations to meet the dynamic requirements of finance teams across the globe.

Anrok has carved a niche for itself by offering a comprehensive solution that addresses the sales tax conundrum faced by numerous software entities.

The platform facilitates the entire tax lifecycle, including monitoring, calculation, collection, and filing.

Over the past year, Anrok has enhanced its offerings with innovative tools for reconciliation, advanced management of tax exemption certificates, and support for VAT and GST compliance in jurisdictions that tax remote software and digital product sales.

Ethan Choi, a partner at Khosla Ventures, highlighted Anrok’s critical role in the financial operations of premier SaaS and AI firms.

“Anrok’s mission to demystify and automate sales tax compliance for the software and digital service sectors aligns perfectly with our vision, and we’re excited to back their journey,” Choi remarked.

Anrok’s reputation for excellence is backed by a team of seasoned tax professionals with experience from prestigious firms like Deloitte and EY.

The platform’s reliability is underscored by its adoption by leading tech companies to tackle intricate sales tax challenges.

In the last year, Anrok oversaw compliance for over $7 billion in revenue, with trailblazing companies such as Notion, Vanta, and Anthropic depending on its services for global compliance and safeguarding their financial interests.

Temi Vasco, Controller at Gem, a rapidly expanding software company, shared his positive experience with Anrok.

“We anticipated a daunting and costly journey to achieve compliance. However, Anrok simplified the process, enabling us to manage risks more effectively and prevent unforeseen financial setbacks,” Vasco said.

With the infusion of new capital, Anrok is set to continue its investment in research and development, as well as product innovation, to solidify its position as the quintessential global tax compliance platform for contemporary finance teams.