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Kintsugi Lands $6M Series A to Simplify Tax Compliance with AI-Powered Automation

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SAN FRANCISCO, May 29, 2024-- Kintsugi AI, a cutting-edge tax automation platform, announced today that it has secured a $6M Series A at a $40M valuation to further develop its innovative end-to-end sales tax management solution. This round, led by Link Ventures, Venture Highway, KyberKnight, Plug and Play and DeVC and notable angel investors, will drive Kintsugi AI's development of automated VAT solutions for Canada and Europe, supporting customers selling internationally.

"We are hyper-focused on helping more than 27M e-commerce and SaaS businesses worldwide save time and money by putting their sales tax on autopilot," Pujun said. "Tax complexity is only increasing, and without the right tools, manual processes will inevitably fail to scale. That's where Kintsugi comes in."

Co-founded by Pujun Bhatnagar, Barkin Doganay, and Jeff Gibson, Kintsugi AI aims to automate sales tax compliance with its comprehensive platform, covering real time nexus monitoring, AI-enabled product categorization, rooftop-level tax calculation and validation, sales tax registration, filing, exemption certificates handling, and back-tax compliance.

"Kintsugi addresses a real need; 48 percent of states rely on sales tax for a major source of revenue. Sales tax is defined and collected on a city, county and state level and performing this task manually takes hours, as does keeping track of ever-changing laws," said Lisa Dolan, Managing Partner, Link Ventures. "Kintsugi uses AI to make compliance fast and painless and then automates the process so companies can focus on their businesses instead of tax paperwork."

"There are other companies that offer sales tax compliance solutions; Kintsugi's single SaaS fee model and hands-off software management set it apart," said Jeff Gibson. "We're the solution that tracks, monitors, and automates sales tax compliance end-to-end, allowing businesses to get back to serving their customers."

"Legacy vendors have stopped innovating in this space, and many competitors are focused only on SaaS or e-commerce, missing key aspects of handling both seamlessly," added Barkin Doganay.

About Kintsugi

Based in San Francisco and founded in 2022, Kintsugi knows that paying taxes is a critical part of managing and growing an e-commerce business, but doing it right is complicated. The Company's platform takes the worry out of sales tax and lets businesses put sales tax compliance on autopilot, delivering high performance, reliability, and flexibility as you scale. Kintsugi is secure, encrypted, GDPR-compliant and SOC 2 Type II compliant. The Company complies with the Trust Services Criteria's advanced protocols for Security, Availability, Processing Integrity, Confidentiality, and Privacy.

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Liz Savery, SaveryInk, 1 6465041905, liz@saveryink.com, SaveryInk

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