TaxCloud, a sales tax compliance platform for ecommerce companies, has raised $20m in a growth equity funding round.
Camber Partners, a growth equity firm focused on product-led growth (PLG) software companies, led the investment round. Camber’s investment in TaxCloud marks its first in the ecommerce sales tax and use space.
The investment will enable TaxCloud to continue providing exceptional service to its customers, while expanding its product offerings, marketing efforts, and sales operations, ultimately driving growth in the ecommerce sales and use tax market.
TaxCloud’s platform helps merchants calculate, collect, and file sales and use tax for transactions in all 50 U.S. states and the District of Columbia. The platform is trusted by more than 4,000 ecommerce businesses, and is a recognized leader in customer service and support in the sales tax management space.
As a part of the investment, Nate Gilmore has been appointed CEO of TaxCloud.
Gilmore remarked, “I am thrilled to be joining TaxCloud’s team at this exciting time for the company. Camber’s dedication to growing industry-leading SaaS solutions is a perfect match for our mission of simplifying sales tax compliance for ecommerce businesses.”
Norway-based compliance platform ComplAI has recently reportedly secured $1.7m in a funding round, which was led by RunwayFBU.
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