Avalara, a provider of sales tax and compliance automation services, has acquired UPC Matrix Master, the largest database of Universal Product Codes with specialized sales taxability data. Terms were not disclosed. Avalara is backed by Battery Ventures.
Avalara, the market leading provider of sales tax and compliance automation services in the cloud, announced today it has acquired UPC Matrix Master™, the world’s largest database of Universal Product Codes with specialized sales taxability data.
Formerly provided by Tax Matrix LLC, which will continue operating, Matrix Master is a patented, multi-state, product taxability database that maintains taxability information for more than 10 million products in thousands of tax jurisdictions across the U.S. The service is widely used by top storefront and ecommerce retailers throughout North America.
This purchase, combined with tens of thousands of recently acquired, fully researched and maintained product tax codes from leading industry partners, along with its own content library, accelerates Avalara’s drive to become the leader in Sales Tax Content. As a result of these acquisitions, Avalara’s team of more than 50 sales tax and research professionals is now among the largest in the industry.
“Until recently, Avalara was primarily known as a technology company that revolutionized and came to dominate the sales tax industry with our cloud-based service model,” said CEO Scott McFarlane. “Now we also lead the way with our sales tax content, which means we can touch more businesses in more industries with higher levels of accuracy than anyone. This is a big win for our current and future customers, who will see even better levels of ease and accuracy from our service.”
Tax Matrix CEO Mike Espenshade echoes this confidence. “Ultimately, we felt partnering with Avalara provided the best platform to leverage our content and capabilities. In doing so, our treasured customers and employees will be best positioned given Avalara’s dynamic, innovative approach and their evolving role as the leader in automated sales tax compliance,” Espenshade said.
“The vast number of codes encompassed by Matrix Master™, all linked to fully researched taxability data, is by far the most extensive library of its kind in the world and clearly puts Avalara at the head of the class in this area,” McFarlane continued. “Our end goal, however, is even higher. We are establishing a new standard for breadth and depth of sales tax content domestically and internationally.
“Well-researched and maintained content is the lynchpin for any accurate tax decision,” McFarlane concluded. “People tend to focus on rates, but it takes extensive research and expertise to gather all those underlying rules and regulations and stay on top of them over time. That’s the value we are constantly working to expand and deliver to our customers.”
Founded in 2004, Avalara pioneered a service-based platform for sales tax and compliance automation and has been recognized for years as one of America’s fastest growing technology firms. The company’s cloud solutions help thousands of customers stay focused on their core businesses by providing automated end to end compliance services including sales and use tax calculation, exemption certificate management, filing and remittance, and a broad array of related services.
Avalara built its technology platform and extensive user base using internal expertise and the strategic acquisition of industry leading organizations, technologies, and personnel. Operating behind the scenes via seamless integration with virtually any business management system, Avalara delivers fast, easy, accurate, and affordable solutions for companies of any size.
The company employs more than 300 professionals at its headquarters on Bainbridge Island, WA and offices in Seattle WA; Irvine, San Diego and Rocklin, CA; Falls Church, VA; Harrisburg, PA; and Pune, India.
About Tax Matrix
Founded in 1999, Tax Matrix, LLC is widely recognized as an innovative provider to the Sales and Use Tax industry. In addition to developing the UPC Matrix Master, Tax Matrix also pioneered the Tax Help DeskSM concept, available to all clients at no charge.
Given the company’s unwavering focus on transparency and always putting the client first, Tax Matrix is engaged by tax teams at some of the largest companies in America for its suite of services including reverse audits (refund reviews), compliance reviews, audit defense, custom matrix development, nexus studies and voluntary disclosure representation. Tax Matrix is now the preferred provider of these services to Avalara’s growing client base.
The company has been and will continue to be 100% focused on Sales and Use Tax and currently employs more than 30 professionals from its offices in Pennsylvania, New York, New Jersey and Texas.