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AVALARA TO SPEND FOR AWARENESS Featured

Avalara will hike spending to boost broader product awareness, its CEO Scott McFarlane said during the company’s recent webcast. That statement came as the sales tax company reported that it its third quarter ended September 30 it had boosted sales and marketing spending by 50.3 percent year-over-year.

McFarlane’s comments came as he discussed to move the perception of Avalara products as used to fix problems to viewing them as applications that can prevent them. ”I think you'll see us dial up awareness spend,” McFarlane said. ”I think we're going to double down on what we're doing with our partners and really engaged with them to get to the next level.” For the most recently quarter, Avalara lost $32.5 million, 155 percent higher than the $23.9 million a year ago. Third-quarter revenue was $181.2 million, an increase of 28.3 percent from $127.9 million in last year’s corresponding period. McFarlane also gave a view into an area that company sees as a potential new market. He noted that in the fuel tax market, after fuel is taxed and “moves from one state to another state there's lots of compliance documents that have nothing to do with tax.” His comments suggest a general interest in non-tax compliance documents in all areas ”although it's not something that's on my radar screen right now it's something that is there and we continue to think about how we can build that out because in our platform in my platform vision and the platform vision that we have for the company being able to deal with documents and environmental documents in particular is just a fantastic way to prove that out.”

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