Numbers has successfully secured $35 million in its Series B funding round. The company has developed an AI-driven platform focused on sales tax compliance for e-commerce and software businesses.
This automated platform handles the entire sales tax process for these companies and comes with a guarantee of error-free filings, as stated in a press release issued on September 18th.
The platform is designed to help businesses navigate the complexities posed by 11,000 tax jurisdictions in the United States. It also addresses the fluctuations in sales tax rates that have changed 400 times in just the first half of this year.
CEO Sam Ross shared in the release, “As operators, we experienced the headaches of sales taxes firsthand—lost time, missed filings, and a constant sense of uncertainty. We created Numbers to completely eliminate that friction.”
Founded in early 2023, Numeral currently provides services to over 2,000 e-commerce and SaaS brands, ensuring compliance across more than 60 countries.
The funding will be used for product development and a global expansion strategy.
Sri Pangulur from Mayfield, who led the funding round, mentioned that the goal of Numbers is to create “an intelligent system of global sales tax records.” He added, “Sales tax is one of the most cumbersome and error-prone aspects of finance. Our platform puts tax compliance on autopilot, simplifying the management of thousands of constantly changing tax regulations and allowing modern businesses to grow confidently.”
As noted by Pymnts, navigating sales tax laws can be challenging; for instance, different states may have varying tax regulations on the same products. Additionally, not all states provide the same exemptions for small businesses, adding to the confusion for e-commerce companies.
Previously, Numbers raised $18 million in a Series A funding round back in March.
At that time, the company reported serving approximately 1,000 customers and was particularly focused on expanding its services to SaaS companies, which are now required to collect sales tax in 25 states due to legislation changes. Based on this trajectory, it seems Numeral is well positioned for further growth.
In its March press release, the company noted that businesses making around $5 million in revenue typically owe sales taxes in over 30 states, which means they must adhere to the tax laws for nearly 10,000 different jurisdictions.
