Avalara gets $20 million infusion of funds

Avalara got a financial boost this week after Battery Ventures invested $20 million in the Bainbridge Island business.

Avalara got a financial boost this week after Battery Ventures invested $20 million in the Bainbridge Island business.

Battery Ventures, an investment firm with offices in Boston, Silicon Valley and Israel, focuses its investments on companies showing innovation through technology.

Avalara offers tax solutions for businesses, which is increasingly in demand as sales move from the register and onto the Internet. With technology and services Avalara provides, businesses can run through complex sales tax calculations at ease. The company has amassed thousand of customers, overseeing approximately one billion transactions every year.

“Avalara exemplifies what we look for in companies as investors: a practical solution to a pressing problem,” said Chelsea Stoner, Battery Ventures Partner. “We believe Avalara has massive potential and we look forward to working with the team to achieve it.”

Along with the $20 million infusion of funds, Stoner will move onto Avalara’s board of directors.

“While we were not actively looking for funding, we are confident Battery’s investment will help Avalara quickly tap the huge opportunity we see ahead of us,” said Avalara founder and CEO Scott McFarlane.

“Their impressive record and solid understanding of the (software as a service) business model make them the right partner to help build the next phase of our business and create a world-class company,” McFarlane said.

More in Business

Thank-you lunch for brokers

John L. Scott Chairman and CEO J. Lennox Scott joined brokers from… Continue reading

Tour Bainbridge marks one year full of scenic success

Bainbridge Island is a first-class tourism destination, especially for those looking to… Continue reading

Fairbank Construction marks four decades of building for the future

Behind many of the most iconic structures on Bainbridge Island is a… Continue reading

More Mora: Sweet staple marks 15 delicious years in Kitsap

Even as they prepare to celebrate 15 years of business in Kitsap… Continue reading

Far Bank Enterprises acquires Oregon-based fly fishing travel company

Far Bank Enterprises, Inc., the parent company of Sage Fly Fishing, Redington,… Continue reading

New leadership comes to Kitsap News Group

The Kitsap News Group, owned by Sound Publishing, recently announced leadership changes… Continue reading

Bainbridge Brewing expands with new alehouse in Winslow

Bainbridge Brewing will soon be opening a new second location on Bainbridge… Continue reading

Melt Massage + Body opens new location on Bainbridge Island

Urban Renaissance Group recently announced the grand opening of Melt Massage +… Continue reading

Paws Fins Pet Shop, First Federal open new retail locations at Island Village Shopping Center

One addition and one relocation are set to alter the business landscape… Continue reading

Need help with tax returns? Assistance is nearby

Free service available in six county towns until April 15.

New brokers at Coldwell Banker Bain

Two new brokers have joined the team of Coldwell Banker Bain of… Continue reading