Taxwire Secures $25M to Expand AI-Based Sales Tax Compliance Platform
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Taxwire, a company focused on AI-powered sales tax automation and compliance management, has raised $25 million through Seed and Series A funding rounds.
The investment was backed by Headline Ventures, XYZ VC, Vinyl, Recall Capital, and Nomo Ventures.
Funding to Support Tax Infrastructure Expansion
The company said it plans to use the funding to expand its managed tax infrastructure and improve its automated geocoding capabilities across international tax systems.
In addition, Taxwire plans to strengthen its data engineering team as it scales operations.
Focus on Automated Global Tax Compliance
Taxwire was founded by Andrew Rea and Steven Schmatz. The company develops software designed to automate sales tax compliance processes for businesses operating across multiple regions.
Its platform handles product tax classification, real-time tax rate calculations based on location data, and automated filing workflows. The system currently supports more than 22,000 tax jurisdictions across the United States and tax frameworks in over 100 countries.
Integration With Accounting Platforms
The platform also offers integrations with accounting software platforms such as NetSuite and QuickBooks.
Taxwire currently works with several growing companies, including Coder, Omni, Middesk, and Honeystack.
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