Numeral raises $100 million in Series C funding for tax compliance

Numeral, a San Francisco-based tax compliance platform, has raised $100 million in Series C funding. Led by Insight Partners, the round included participation from Salesforce Ventures, Geodesic, Benchmark, Mayfield, FCVC, Y Combinator, and Uncork. This investment brings the company’s total funding to $157.5 million since its founding in 2023.

The company utilizes agentic AI and a deterministic tax calculation engine to automate sales tax compliance tasks, including nexus tracking, registrations, filings, and remittance. Numeral also manages VAT and GST compliance in over 90 countries and integrates with more than 40 billing and enterprise resource planning systems.

Numeral plans to use the new capital to accelerate product development, expand into industries such as manufacturing, distribution, and wholesale, and grow its global team. The company recently reported a 327% year-over-year increase in total transaction volume and expects to process over 80 million transactions through its engine.