TaxCloud Raises $20M in Growth Equity Round

Norwalk, CT — April 17, 2023 — TaxCloud, the leading sales tax compliance platform for ecommerce businesses, today announced it raised $20 million in a growth equity round. Camber Partners (“Camber”), the growth equity firm focused on product-led growth (PLG) software companies, led the investment round. 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. 

As part of the investment, TaxCloud announced the appointment of Nate Gilmore as its CEO. 

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. 

“TaxCloud is a great fit for our portfolio: it delivers a complete tax compliance product to ecommerce businesses. It’s non-optional: if you do business online, eventually you must pay sales tax,” said Scott Irwin, Managing Partner at Camber. “We’re excited to provide TaxCloud not only the capital but also the operational expertise to help the company build on the phenomenal business they have brought to market. Nate and I have worked together for more than five years in a similar business. He will be an exceptional go-to-market and operational addition to TaxCloud.”

Camber’s investment in TaxCloud marks its first in the ecommerce sales tax and use space.  TaxCloud matches the firm’s thesis to invest in SaaS and PLG products in large, addressable markets with under-optimized go-to-market muscle that can benefit from Camber’s in-house tools and expertise. 

On the announcement, Mr. Gilmore said: “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.” 

Mr. Gilmore will draw on his experience leading high-growth software-as-a-service (SaaS) businesses, in addition to coaching and investing in growth companies, to help TaxCloud achieve its mission. Mr. Gilmore was most recently Chief Revenue Officer and Chief Marketing Officer of PandaDoc and previously VP Marketing at Shipwire (acquired by Ingram Micro, now a CEVA Logistics company). 

About TaxCloud 

TaxCloud is the right-sized tax solution for companies who need to be compliant across the states they sell in. The TaxCloud team and technology automagically calculate the right tax rates across 13,000+ different tax jurisdictions in the US, collect the right amount at the moment of transaction, and file the right amount of sales tax with 100% accuracy. The company also manages audits as they arise. TaxCloud has been partnering with merchants in all 50 U.S. states and the District of Columbia for the past 15 years. TaxCloud: We eat sales tax for breakfast. To learn more, please visit: https://taxcloud.com 

About Camber Partners

Camber Partners is a San Francisco-based growth equity firm focused on product-led growth (PLG) software companies. Camber Partners provides software companies with flexible capital and dedicated go-to-market and data science resources to drive long-term sustainable growth. To do it, the Camber team brings to its portfolio companies deep operational expertise across sales, marketing, growth, and product development. For more information, please visit http://www.camber.io or follow us on LinkedIn.

TaxCloud Releases New Integration With Stripe

Stripe Users Can Now Easily Connect to TaxCloud for Sales Tax Compliance Services

NORWALK, Conn.–(BUSINESS WIRE)–Today TaxCloud, a leading online sales tax compliance service for online retailers, announced that users of Stripe’s payments platform can now connect to TaxCloud to easily manage their U.S. sales tax obligations. This announcement comes as many more online retailers find themselves having to collect sales tax in additional states since the Supreme Court issued its opinion in South Dakota v. Wayfair in June 2018.

TaxCloud now integrated with Stripe offering sales tax compliance to online retailers!

TaxCloud provides a powerful sales tax API, wrapped by an easy-to-use, self-service Cloud platform. While the TaxCloud website empowers retailers of any size to get started collecting sales tax in any state (or all states) in minutes, the TaxCloud API delivers real-time and batch process sales tax calculations for any address in the U.S., as well as automated registration, filing & remittance services, audit response and indemnification to its clients. Similar integrations with the Amazon Marketplace, Etsy, Shopify, Bonanza, QuickBooks Online, WooCommerce and eBay have been announced by TaxCloud over the past 14 months.

“TaxCloud is delighted to support retailers’ ability to be compliant with the changing sales tax landscape in the U.S. by integrating with leading eCommerce platforms”, said TaxCloud CEO David Campbell. He added, “The payments process is the most logical place for sales tax services like TaxCloud’s to operate and this integration with Stripe is an important first step to achieving that vision.”

About TaxCloud

TaxCloud is a service of The Federal Tax Authority, LLC (d/b/a TaxCloud), a Washington Limited Liability Company. TaxCloud’s mission is to offer online retailers an affordable, easy way to calculate and collect sales tax. Since inception, TaxCloud has been designed to ensure ease-of-use and minimal cost for retailers. Today, TaxCloud is among the largest providers of sales tax compliance services with more than 26,000 online retailers registered. TaxCloud is headquartered in Connecticut with operations in California, Kansas, Oklahoma, and Washington State. For more information on TaxCloud, visit https://taxcloud.com/.

 

Credits


Press Contact

TaxCloud:
Patrick Riley
Vice President, Business Development
+1 203-803-2048 
priley@taxcloud.com

You Spoke, We Listened! eBay And QuickBooks Online Integrations Now Available For TaxCloud!

TaxCloud Releases Integrations With eBay and QuickBooks Online

Integrations Allow Online Retailers to Easily Connect to TaxCloud to Manage Their Sales Tax Compliance

NORWALK, Conn.–(BUSINESS WIRE)–Today TaxCloud, an online sales tax compliance service, announced that eBay marketplace sellers and users of QuickBooks Online can now connect to TaxCloud to easily manage their U.S. sales tax obligations. This announcement comes as many more online retailers find themselves having to collect sales tax in additional states since the Supreme Court issued its opinion in South Dakota v. Wayfair in June 2018.

TaxCloud provides a powerful sales tax compliance API, wrapped by an easy-to-use, self-service Cloud platform. While the TaxCloud website empowers retailers of any size to get started collecting sales tax in any state (or all states) in minutes, the TaxCloud API delivers real-time and batch process sales tax calculations for any address in the U.S., as well as automated registration, filing & remittance services, audit response and indemnification to its clients. TaxCloud has previously announced similar integrations with the Amazon Marketplace, Etsy, Shopify, Bonanza and WooCommerce.

“TaxCloud’s integrations with eBay and QuickBooks Online expands our portfolio of integrations with leading eCommerce platforms supporting sellers ability to be compliant with the changing sales tax landscape in the U.S.”

“TaxCloud’s integrations with eBay and QuickBooks Online expands our portfolio of integrations with leading eCommerce platforms supporting sellers ability to be compliant with the changing sales tax landscape in the U.S.,” said TaxCloud CEO David Campbell. He added, “TaxCloud’s investment in integrating with leading platforms is growing and we will be announcing additional integrations shortly.”

More information on the integrations can be found at https://taxcloud.com/ebay and https://taxcloud.com/quickbooks respectively.

 

About TaxCloud

TaxCloud is a service of The Federal Tax Authority, LLC (d/b/a TaxCloud), a Washington Limited Liability Company. TaxCloud’s mission is to offer online retailers an affordable, easy way to calculate and collect sales tax. Since inception, TaxCloud has been designed to ensure ease-of-use and minimal cost for retailers. Today, TaxCloud is among the largest providers of sales tax compliance services with more than 26,000 online retailers registered. TaxCloud is headquartered in Connecticut with operations in California, Kansas, Oklahoma, and Washington State. For more information on TaxCloud, visit https://taxcloud.com/.


Press Contact

TaxCloud:
Patrick Riley
Vice President, Business Development
+1 203-803-2048 
priley@taxcloud.com

TaxCloud Approved By Pennsylvania As A Certified Provider For Online Retailers To Help Them Comply With The New Sales Tax Landscape

Pennsylvania Enables Efficient Sales Tax Solution for Online Merchants

NORWALK, Conn.–(BUSINESS WIRE)–Starting July 1st, 2019, the Pennsylvania Department of Revenue will start working with Certified Service Providers (CSP’s) to make it easier for out of state individuals and businesses with sales tax collection obligations in Pennsylvania. Remote sellers who do not have a physical presence in Pennsylvania can outsource most of their sales tax administration responsibilities to a CSP.

TaxCloud Approved by Pennsylvania as a Certified Provider for Online Retailers to Help Them Comply with the New Sales Tax Landscape

TaxCloud, the leading CSP for the Streamlined States, can file sales tax returns and collect & forward tax payments to the Pennsylvania Department of Revenue on behalf of its clients. TaxCloud can also help internet sellers determine which products are subject to Pennsylvania sales tax and relieve the seller of certain liabilities upon audit. TaxCloud is also excited to announce that as of July 1, 2019, The Commonwealth of Pennsylvania will become our 25th TaxCloud member state. This means that all TaxCloud retailers using our Automated Compliance service option will get our sales tax compliance services for sales into Pennsylvania at no cost. Automated Compliance for sales into the TaxCloud Member States includes registration, reporting, tax remittance, and audit response, all at no charge for our customers.

Retailers sign up with TaxCloud in just minutes by registering at https://taxcloud.com/ and by following step-by-step video tutorials. TaxCloud is integrated with many of the popular shopping carts and marketplaces including Amazon, Etsy, Shopify, and Bonanza. Additionally, TaxCloud can be found within the Amazon Marketplace Appstore and Etsy Shop Manager.

As a Certified Service Provider (CSP) under the Streamlined Sales and Use Tax Agreement (a crucial component of the Wayfair ruling), TaxCloud handles all aspects of sales and use tax compliance for retailers, including:

  • Initial sales tax license registration in 25 member states
  • Sales tax calculation at the time of sale, accounting for all applicable state, county, city, and special jurisdictions
  • Tax calculations based upon the class of goods being sold to account for product-based exemptions
  • Exemption certificate management to account for use-based or entity-based exemptions
  • Regular sales tax reporting, filing, and remittance of tax proceeds
  • Tax correspondence with the states (including audit inquiries)

Credits


Press Contact

TaxCloud:
Patrick Riley
Vice President, Business Development
+1 203-803-2048 
priley@taxcloud.com