Seattle-based tax software company Avalara (NYSE: AVLR) announced Monday it has acquired property tax software company CrowdReason LLC. The companies aren't disclosing financial terms of the deal.
The news comes less than a month after Avalara announced it acquired California-based e-filing company Track1099. The companies didn't disclose the financials of that deal either.
“Adding property tax content and software to our global compliance portfolio extends Avalara’s footprint into a large and exciting new tax type," Jayme Fishman, executive vice president of corporate development at Avalara, said in a statement. "This transaction will increase the opportunity we have to support businesses with more of their compliance requirements.”
CrowdReason is the latest in a string of acquisitions for Avalara. In April the company acquired Davo Technologies and Inposia, the latter in a deal initially announced in December. That month, Avalara also acquired Impendulo Limited. The company didn't disclose the financial terms for any of the acquisitions.
"At any given time, our growth is coming on two fronts. One is organic growth," Avalara Chief Operating Officer Amit Mathradas previously told the Business Journal. "Then there's the inorganic. The other big piece of our mission and strategy is M&A. Wherever those companies come along and establish themself, at some point some of those people move into the Seattle area because this is the nerve center."
Avalara, founded in 2004, went public on the New York Stock Exchange in 2018. The company offers software to help with sales and use tax, consumer use tax and international tax. Its clients include Zillow, Pinterest and Roku. In Avalara's second quarter 2021 financial results, released in August, the company reported revenue of $169.1 million for the quarter, up from $116.5 million during the second quarter of 2020.
CrowdReason, headquartered in Carrollton, Texas, was founded in 2014. In addition to property tax software, the company offers data collection tools. Its clients include Comcast and WestRock.
