Estimated reading time: 1 minute, 12 seconds

AVALARA TARGETS $40M SALES

Kevin Riegelsberger, AvalaraAvalara intends to increase its revenue to about $40 million for 2012, a roughly 50-percent increase from 2011 as it seeks to ramp up its business. The Bainbridge Island, Wash.-based company also plans to add 100 staffers this year to bring employment to 370, according to President Kevin Riegelsberger.
To handle growth, Riegelsberger said the sales-and-use tax vendor built a West Coast data center that opened last year and is scheduled to open an East Coast facility this month. Avalara has also been ramping up its marketing department with money fueled by last year’s $21-million round of venture funding. The company continues to add connectors for accounting software, ecommerce and other applications. Avalara builds connectors so that AvaTax, its sales tax engine, can integrate with the other packages. It has nearly 200 OEM agreements and intends to add connectors for 50 more OEMs this year, many in specialized ERP or ecommerce. Not surprisingly, 70 percent of endusers connect to AvaTax for use with software products from a few companies, including Epicor, Intacct, Infor, Microsoft, NetSuite and Sage in the financial software arena, along with one pure ecommerce player, Magento. In addition, Avalara plans to have more OEMs privately label the tax engine, in addition to NetSuite and Epicor, which already doing so. The company has also hired Jeff Cohen, who worked at Thomson Reuters from January 2008 through December 2010, as VP of compliance. Cohen, a CPA, was most recently senior manager of indirect tax for KPMG from January through December 2011.
Read 1925 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.