Tax automation platform company Kintsugi AI announced that it has secured a $6 million Series A at a $40 million valuation further to develop its innovative end-to-end sales tax management solution. This funding round was provided by Link Ventures, Venture Highway, KyberKnight, Plug and Play, DeVC, and notable angel investors.
The funding will drive Kintsugi AI’s development of automated VAT solutions for Canada and Europe, supporting customers who are selling internationally.
Co-founded by Pujun Bhatnagar, Barkin Doganay, and Jeff Gibson, Kintsugi AI plans to automate sales tax compliance with its comprehensive platform, which will cover real-time nexusenabled product categorization, rooftop-level tax calculation and validation, sales tax registration and monitoring, AI- filing, exemption certificates handling, and back-tax compliance.
KEY QUOTES:
“We are hyper-focused on helping more than 27 million e-commerce and SaaS businesses worldwide save time and money by putting their sales tax on autopilot. Tax complexity is only increasing, and without the right tools, manual processes will inevitably fail to scale. That’s where Kintsugi comes in.”
– Pujun Bhatnagar
“Kintsugi addresses a real need; 48 percent of states rely on sales tax for a major source of revenue. Sales tax is defined and collected on a city, county and state level and performing this task manually takes hours, as does keeping track of ever-changing laws. Kintsugi uses AI to make compliance fast and painless and then automates the process so companies can focus on their businesses instead of tax paperwork.”
– Lisa Dolan, Managing Partner, Link Ventures
“There are other companies that offer sales tax compliance solutions; Kintsugi’s single SaaS fee model and hands-off software management set it apart. We’re the solution that tracks, monitors, and automates sales tax compliance end-to-end, allowing businesses to get back to serving their customers.”
– Jeff Gibson
“Legacy vendors have stopped innovating in this space, and many competitors are focused only on SaaS or E-commerce, missing key aspects of handling both seamlessly.”
– Barkin Doganay
