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AVALARA COMPLETES $21M FUNDING ROUND

avalara logo newAvalara has completed a $21-million-funding round that the sales-and-use-tax vendor began in the spring. Documents filed with the SEC show that only $30,014 in equity remained unsold out of the original offering of $21,250,001. The first sale of stock by the privately held company was completed on April 15 in a year in which it has been stocking up on executives, including its new president, Kevin Riegelsberger.

When the Bainbridge Island, Wash.-based company first reported the offering in May, it had $10 million in equity that remained unsold, which the filing this month demonstrates has since been placed. The forms submitted for such offerings give little detail about private companies. However, Avalara said the offering was not being made in connection with any business combination transaction such as a merger, acquisition of exchange offer. Earlier this month, Avalara hired two former Sage channel executives, Rob Johnson and Pascal Van Dooren, and PR veteran Brian Austin as it works to expand its programs.
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