Numeral raises $100 million Series C to expand tax compliance platform as California broadens software tax rules
Summary
Numeral raises a $100 million Series C led by Insight Partners to expand its tax-compliance platform as California prepares to tax prewritten software and remotely accessed SaaS starting in 2027.
Key Points
- Numeral closes a $100 million Series C led by Insight Partners to accelerate product development, expand into software, manufacturing, distribution and wholesale, and hire across engineering, sales, marketing and product.
- California’s new law subjects prewritten software, including remotely accessed SaaS, to sales and use tax from 2027, increasing compliance requirements for multistate and international businesses.
- Numeral’s transaction volume rises 327% year over year, and its tax engine is expected to process more than 80 million transactions.