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Avalara Adds $6 Million Net Funding

Wednesday, January 21, 2015 5:30:00 AM PDT | VentureDeal
   Bainbridge Island, Washington  --  Software technology company Avalara has raised $6 million in new capital to the company as part of a $42 million funding.

Avalara has developed what it calls an "affordable, scalable sales tax solution" for midsized businesses.

Investors in the financing included Technology Crossover Ventures and Warburg Pincus.

After paying approximately $36 million to repurchase shares from existing shareholders, the company will retain approximately $6 million in new growth capital.

Other or previous investors included Battery Ventures, Buckhead Investment Partners, Pioneer Venture Partners, Sageview Capital and the Benaroya Capital Company.

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