About Sovos
Sovos is a company based in Wilmington (United States) founded in 1979 was acquired by Hg in January 2016. It operates as a SaaS (Software-as-a-Service). Sovos has completed 23 acquisitions, including 1099 Pro, Aatrix and Accordance VAT. Sovos offers products and services including Compliance Cloud Platform, Indirect Tax Suite, and Information Reporting Suite. Sovos operates in a competitive market with competitors including Avalara, Exactera, TAINA Technology, Taxdoo and TaxJar, among others.
- Headquarter Wilmington, United States
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Sectors
Technology
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Email
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Phone
*********
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Website
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Social
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- Legal Name Sovos Compliance, Llc
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Products & Services of Sovos
Sovos offers a comprehensive portfolio of products and services, including Compliance Cloud Platform, Indirect Tax Suite, and Information Reporting Suite. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for global tax and regulatory compliance needs.
Solution for processing e-Invoices and indirect tax filing.
Tool for 1099 reporting and tax withholding tasks.
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Sales and Marketing
57 people
Software Development Team
49 people
Leadership Team
48 people
Product Management Team
47 people
Legal and Compliance
17 people
Senior Team
11 people
Finance and Accounting
10 people
Human Resources and Administration
9 people
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Funding Insights of Sovos
- Total Funding Total Funding
- Total Rounds 1
- Last Round Last Round
- First Round First Round
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Aug, 2020 | Amount | Private Equity Round - Sovos | Valuation | TA |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Sovos
Sovos has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Hg, TA Associates and Vista Equity Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Multiple sectors are invested in by private equity firm TA.
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Founded Year | Domain | Location | |
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Private equity investments in Europe are managed by Hg.
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Founded Year | Domain | Location | |
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Investments are directed toward high-growth enterprise software and technology companies.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Sovos
Sovos has strategically engaged in corporate development activities, having acquired 23 companies. Notable acquisitions include 1099 Pro, Aatrix and Accordance VAT. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Hotspot devices are provided to consumers, enabling helium network synchronization.
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2022 | ||||
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Provider of commercial and financial analytics tools
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2014 | ||||
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Real-time tax compliance is ensured via transaction audits.
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2013 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Sovos
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Sovos Comparisons
Competitors of Sovos
Sovos operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Avalara, Exactera, TAINA Technology, Taxdoo and TaxJar, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cloud-based tax compliance solutions are delivered for businesses worldwide.
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| domain | founded_year | HQ Location |
Tax compliance software solutions are provided for business operations.
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| domain | founded_year | HQ Location |
Compliance management platforms are provided for financial institutions' regulatory needs.
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| domain | founded_year | HQ Location |
Sales tax management is offered for online retailers.
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| domain | founded_year | HQ Location |
Cloud-based tax calculations & compliance solutions for small businesses
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| domain | founded_year | HQ Location |
Bookkeeping and tax compliance platform for SMEs and freelancers
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Sovos
Frequently Asked Questions about Sovos
When was Sovos founded?
Sovos was founded in 1979 and raised its 1st funding round 41 years after it was founded.
Where is Sovos located?
Sovos is headquartered in Wilmington, United States. It is registered at Wilmington, Delaware, United States.
Who is the current CEO of Sovos?
Kevin Akeroyd is the current CEO of Sovos.
What does Sovos do?
Sovos is relied upon for delivering comprehensive tax compliance solutions through its Compliance Cloud Platform. The platform is designed to handle e-Invoicing, indirect tax determination, filing, and information reporting obligations across over 200 countries. Solutions are tailored for various industries and tax types, including specialty products for unclaimed property and beverage alcohol compliance. Sovos is trusted by over 100,000 companies, including half of the Fortune 500, to navigate the complexities of regulatory environments with analytics and reduced maintenance costs.
What products or services does Sovos offer?
Sovos offers Compliance Cloud Platform, Indirect Tax Suite, and Information Reporting Suite.
How many acquisitions has Sovos made?
Sovos has made 23 acquisitions, including 1099 Pro, Aatrix, and Accordance VAT.
Who are Sovos's investors?
Sovos has 3 investors. Key investors include Hg, TA Associates, and Vista Equity Partners.