About Sovos
Sovos is a company based in Minnetonka (United States) founded in 1986 by John Graves and Oleg Sinitsyn was acquired by Taxware in July 2014. It operates as a SaaS (Software-as-a-Service). The company has 133 employees as of December 31, 2022. 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 Symphony, Wolters Kluwer, FiscalNote, EXIGER and Continuity, among others.
- Headquarter Minnetonka, United States
- Employees 133 as on 31 Dec, 2022
- Founders John Graves, Oleg Sinitsyn
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Sectors
Financial ServicesTechnology
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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.
Funding Insights of 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 |
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Investors in Sovos
Sovos has secured backing from 1 investor. Prominent investors backing the company include Taxware. 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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Tax compliance management solutions are offered through Taxware platform.
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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
| 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 |
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 Symphony, Wolters Kluwer, FiscalNote, EXIGER and Continuity, 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 |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Compliance management solutions for financial institutions
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| domain | founded_year | HQ Location |
Enterprise legal processes are managed via an AI-powered platform.
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| domain | founded_year | HQ Location |
AI-driven legal, regulatory, and policy data analysis is delivered.
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| domain | founded_year | HQ Location |
Third-party risks and supply chains are managed via AI platform.
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| domain | founded_year | HQ Location |
AI-based platform for automating risk and compliance in finance.
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| domain | founded_year | HQ Location |
AI-driven compliance and risk management solutions are provided for enterprises.
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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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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
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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Frequently Asked Questions about Sovos
When was Sovos founded?
Sovos was founded in 1986.
Where is Sovos located?
Sovos is headquartered in Minnetonka, United States. It is registered at Minnetonka, Minnesota, United States.
How many employees does Sovos have?
As of Dec 31, 2022, the latest employee count at Sovos is 133.
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, supporting businesses with analytics and regulatory compliance. Sovos is trusted by over 100,000 companies, including half of the Fortune 500, and focuses on reducing technology maintenance costs while addressing complex global tax challenges.
What products or services does Sovos offer?
Sovos offers Compliance Cloud Platform, Indirect Tax Suite, and Information Reporting Suite.
Who are Sovos's investors?
Sovos has 1 investor. Key investors include Taxware.