Taxdoo secures $21m in Series A led by Accel

Taxdoo, automated financial compliance platform, has closed its Series A round on $21m, with London-based investor Accel leading the investment.

Other backers included Visionaries Club, 20VC and existing shareholder High-Tech Gründerfonds.

Taxdoo has developed a sales-tax automation software that can manage sales tax in online retail. The platform collects relevant data from marketplaces, online shops and ERP systems on a daily basis.

Capital from the round will be used to support the company’s development roadmap and make key hires to its team.

In a blog post announcing the funding, Taxdoo founder and co-CEO Christian Königsheim  said, “We will continue building our exceptional engineering and product organization in order to accelerate our platform roadmap.

“Adding to that, we’ll make sure to always live up to our standards with best-in-class customer support – something that has always set us apart from others and that we are especially proud of. This will become even more important as we continue internationalising our product to assist more sellers from across and outside the European Union.”

In tandem with the deal close, Accel’s Harry Nelis will join the Taxdoo board of directors.

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