Numeral Secures $35M Series B at $350M Valuation to Scale AI Tax Compliance

San Francisco, CA – Numeral, an AI-powered platform specializing in sales tax and VAT compliance, has successfully closed a $35 million Series B funding round, valuing the company at $350 million. The round was led by Mayfield, bringing Numeral's total funding to $57 million, including an $18 million Series A earlier this year. The announcement highlights the growing demand for automated solutions in the complex landscape of global tax regulations.

Sam Ross, co-founder and CEO of Numeral, expressed his enthusiasm on social media, stating, > "I’m thrilled to share that @numeral has raised a $35M Series B, led by Mayfield, at a $350M valuation!" He added that the complexity of sales tax and VAT now necessitates "AI and millions of dollars in VC funding to make it simple again."

Founded in early 2023 by Sam Ross and Matt DuVall, Numeral provides an end-to-end platform for e-commerce and SaaS companies, handling everything from nexus tracking and registrations to filing, remittance, and exemption certificate management. The company has demonstrated rapid growth, processing over $5 billion in transaction volume and filing 150,000 sales tax returns for more than 2,000 paying customers. Numeral also reported a 3.5x year-over-year revenue growth.

The new capital injection will fuel Numeral's strategic expansion plans, which include global coverage, new integrations, and further automation of its AI capabilities. Ross noted that the platform currently covers over 60 countries and plans to expand to many more by year-end, along with launching several new integrations. The company is also actively hiring across various roles to support its growth trajectory.

Mayfield Partner Sri Pangulur highlighted the strategic importance of Numeral's mission, stating, “Numeral is transforming one of the most painful and error-prone functions in finance—sales tax compliance—by putting it on autopilot.” He emphasized that the AI-first platform eliminates the complexity of managing thousands of constantly shifting tax jurisdictions, enabling businesses to scale with confidence. Other investors participating in the Series B include Benchmark, Uncork Capital, Y Combinator, and Mantis.