Avalara, Inc., a Bainbridge Island, WA-based provider of software delivering compliance solutions related to sales tax, VAT and other transactional taxes, acquired HotSpot Tax, Inc., a provider of tax compliance solutions for the vacation rental industry.
The amount of the transaction was not disclosed. Avalara plans to operate HotSpot under the new brand name Avalara MyLodge.
According to Scott McFarlane, founder and CEO at Avalara, the acquisition aligns with their strategy of extending the reach into new industries.
HotSpot’s software platform enables anyone renting a home or room to be fully tax compliant each month. Led by Rob Stephens, co-founder and general manager, the company currently serves thousands of properties across the U.S., managing all aspects of occupancy-related tax requirements, including obtaining and renewing required licenses, determining and collecting the appropriate taxes, preparing and filing tax returns, remitting payments, and tracking tax rate and law changes.
Backed by Sageview Capital, Battery Ventures, Warburg Pincus, Technology Crossover Ventures, Arthur Ventures, and other institutional and individual investors, Avalara employs more than 800 people at its headquarters on Bainbridge Island and in offices across the U.S. and in London, England and Pune, India.
FinSMEs
04/03/2015