- Numeral raised $100 million in Series C funding, bringing the tax compliance platform’s total funding to $157.5 million since its 2023 founding.
- The company will use the capital to accelerate product development, expand into additional industries, and grow its team, while launching a new accounting partner program.
- Numeral is using agentic AI to automate more of the tax compliance workload while keeping humans in the loop, as businesses face growing complexity across markets and jurisdictions.
Sales tax compliance platform Numeral has raised $100 million in Series C funding, boosting its total raised to $157.5 million since it was founded in 2023.
Insight Partners led the round, which saw participation from Salesforce Ventures, Geodesic, Benchmark, Mayfield, FCVC, Y Combinator, and Uncork.
San Francisco-based Numeral aims to simplify sales tax compliance details such as nexus tracking, registrations, filing, rate calculation, remittance, exemption certificate management, and virtual mailbox services. In addition to sales tax, the company works with VAT and GST compliance in more than 90 countries. Numeral has recently recorded a 327% year-over-year increase in total transaction volume and expects to process more than 80 million transactions via its tax engine.
“Sales tax has become a much bigger operational challenge as companies grow across markets, systems and business models,” said Numeral Co-Founder and CEO, Sam Ross. “Businesses need infrastructure that can keep pace as rules and requirements change across jurisdictions, without adding more manual work for their teams. We’re building Numeral to provide that foundation, backed by tax expertise and service that customers can rely on.”
Numeral will use today’s funding to accelerate product development, expand its offering for industries, and grow its team. The company is also launching its accounting partner program that will allow partnering firms to refer clients, resell the platform, use it to deliver their own services, or advise clients through implementation to stay closely involved in their clients’ tax decisions. Overall, Numeral’s technology leverages agentic AI while keeping humans in the loop.
“Our customers want to know that their tax obligations are being handled accurately while still having access to a person when a complex issue comes up,” said Ross. “That expectation shapes how we build the platform and how we support each customer. As Numeral moves into additional industries and serves larger businesses, we’ll continue investing in both the technology and the tax expertise behind it.”
As tax compliance is becoming more complex for businesses operating across multiple markets, Numeral is using AI to automate more of the work traditionally handled by internal tax teams and accounting firms. Rather than simply using AI to help employees complete compliance tasks, Numeral’s technology aims to take on more of the operational burden itself, while keeping tax professionals available for complex cases.