I am a staff writer covering venture capital, startups and AI. I am based in San Francisco and work on the technology team. Previously, I covered tech billionaires as a wealth reporter. I graduated from Duke University, where I spent time as news editor for The Chronicle, the university's independent news organization.
Khosla Ventures led the $30 million Series B, which comes as a rare fundraising success outside the sphere of AI.In 2019, recovering venture capitalist Michelle Valentine came upon an idea she wanted to invest in: a business to handle the rote work of managing sales tax on software purchases.
That mandate comes from a 2018 Supreme Court decision in a case between South Dakota and furniture retailer Wayfair. It decreed that Wayfair’s high volume of e-commerce transactions are subject to sales tax, overriding a near century-old rule that payment should be contingent on having a physical presence in a jurisdiction. “People often forget that it wasn’t that long ago — in 2015 or 2016 — that Amazon didn’t even collect sales tax on e-commerce sales for a lot of things,” Valentine said.
Different government bodies have different laws and enforcement standards, but the obvious opportunity to bring in more tax revenue has ramped up collection on the whole in recent years. That has in turn helped Anrok’s business to grow steadily from the start, Valentine said. “Finance leaders were coming to us knowing they had a problem,” she said.
Khosla Ventures Michelle Valentine Kannan Goundan Ethan Choi Sales Tax Software
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