The fully automated platform manages the entire sales tax lifecycle for these businesses, and Numeral offers a guarantee of error-free filing, according to a Thursday (Sept. 18) press release.
With these capabilities, the company’s platform is designed to help businesses meet the challenges of dealing with 11,000 tax jurisdictions in the United States alone and 400 sales tax rate changes in the first half of the year, per the release.
“As operators, we lived the pain of sales tax firsthand: hours lost, filings missed and constant second-guessing,” Numeral co-founder and CEO Sam Ross said in the release. “We built Numeral to eliminate that friction entirely.”
Founded in early 2023, Numeral now serves more than 2,000 eCommerce and SaaS brands and supports compliance across more than 60 countries, according to the release.
The company will use the new capital to fuel its product development and global expansion, per the release.
Advertisement: Scroll to Continue
Sri Pangulur, partner at Mayfield, which led the funding round, said in the release that Numeral aims to become “the intelligent system of record for global sales tax.”
“Numeral is transforming one of the most painful and error-prone functions in finance—sales tax compliance—by putting it on autopilot,” Pangulur said. “Their AI-first platform eliminates the complexity of managing thousands of constantly shifting tax jurisdictions, enabling modern eCommerce and SaaS businesses to scale with confidence.”
PYMNTS reported in 2019 that navigating sales tax laws is a challenge for eCommerce companies because, for example, one state might tax a product that another excludes from levies and not all states offer the same small business tax exemptions.
Numeral raised $18 million in a Series A funding round in March.
The company said at the time that it had nearly 1,000 customers and that it was extending its focus to include SaaS companies as well as eCommerce ones because 25 states required sales tax on software sales and the number was likely to grow.
Ross said in a March 5 press release that a company doing $5 million in sales typically owes sales tax in more than 30 states and needs to comply with the tax rules of nearly 10,000 jurisdictions.
