Sales-tax services provider Avalara said this week it has raised $100 million in financing from an affiliate of Warburg Pincus. The Bainbridge, Island.-Wash.-based software company says its plans include international expansion and strategic acquisitions. "This investment by Warburg Pincus will allow us to put more dollars to work in our growth initiatives," said Avalara founder and CEO Scott McFarlane. Avalara said the new round brings the total it has raised to more than $200 million since 2004.
Minneapolis, Minn.-based Interdyn BMI has acquired another member of the Interdyn consortium. BMI has purchased Chicago, Ill.-based Interdyn Lanac Technology. A reseller of Dynamics GP and CRM, Lanac was owned by Dale May and was founded in 1985. The last count I had for Lanac was $5.6 million in revenue for 2010, submitted in 2012. May has declined to submit information for the Top 100 and VAR Stars selection for the last two years. In the 2012 submission, Lanac reported it had 23 employees.
Kent Hollrah, a veteran of the nonprofit software market, has joined cloud vendor Intacct to lead its NFP program. Hollrah had been president of Orange Leap, which makes software to manage donor and constituent relationships with nonprofits. "This is the fastest-growing part of Intacct's business," he said during this week's Intacct Advantage conference in Orlando, Fla. Hollrah was CEO with the former Micro Information Products, which marketed the MIP line now owned by Abila.
A meal spent with two accountants from Kentucky at Thomson Reuters Synergy conference this week produced a discussion of an interesting problem. They complained at length about the lack of payroll packages that can accommodate multiple local taxes that apply to one individual's income. They pointed to the problems in the Blue Grass state where county taxes can apply to employees who moving from one jurisdiction to another.