Both companies are based in Seattle, Wash. Terms were not disclosed. Avalara will apply the technology to expand its database through global product mapping and classification, and automated content sourcing. Indix provides access to APIs that enable developers to build product-aware applications. In the last four years, the company obtained $23.5 million in equity funding. “From day one, we built Indix to collect, organize, and structure the world’s product information using artificial intelligence," Sanjay Parthasarathy, Indix CEO, said in a prepared statement. According to its Wikipedia description, the Indix database offers coverage for most consumer retail product categories and “also includes many industrial and business-to-business products".
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AVALARA ACQUIRES AI TECHNOLOGY Featured
Avalara has acquired technology from Indix, a move the sales tax company says will enable it to use automation to maintain and expand its tax content database. Index offers AI technology that is said to track more than 1 billion products worldwide.
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