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Sphere, an AI-driven tax compliance platform, secured a $21M Series A led by a16z after addressing the challenges of global tax regulations for marketplaces. Founder Nicholas Rudder faced recurring tax issues while building his previous startup, prompting the creation of Sphere to automate compliance processes. The tool streamlines registration, tax calculation, and remittance across borders, integrating with platforms like Stripe. Sphere’s AI model, TRAM, analyzes jurisdiction-specific rules to determine tax obligations, while human teams validate outputs. The funding will expand Sphere’s infrastructure, AI capabilities, and international sales team to support growing businesses.
Key facts
- Sphere raised $21M Series A funding led by a16z, with additional participation from YC and Felicis Ventures.
- The platform automates tax registration, calculation, filing, and remittance for companies expanding globally.
- Sphere’s AI model, TRAM, evaluates jurisdiction-specific tax rules to determine obligations and provide legal reasoning.
- Integrations with Stripe and over 100 tax authorities enable real-time tax collection and compliance management.
- The tool aims to become an essential solution for finance teams navigating international tax complexities.
TAGS:
#a16z #ai tax compliance #compliance technology #fintech innovation #global compliance #international tax regulations #Series A funding #Startup Funding #tax automation #tax software
