Intuit Ventures

📣 Today we are excited to announce our investment in Anrok, a sales tax platform for software companies and global businesses, as a part of their Series B round led by Khosla Ventures! Anrok is a modern sales tax compliance solution which handles software-specific billing nuances and accounts for the complexities of a distributed workforce. Its platform, integration-forward approach, and robust features make tax compliance seamless for businesses of all sizes. Software companies must grapple with various sales tax laws at the state, county, and sometimes local-level; creating an inevitable challenge that puts outsized pressure on small and mid-sized businesses. These companies need a modern tool which understands billing nuances of software business models to help manage their sales tax compliance. We're excited by what Anrok is building and are thrilled to back Michelle Valentine and Kannan Goundan on their journey 🚀 Check out the full press release here: https://lnkd.in/gCKzFxJB Check out Anrok's Series B announcement here: https://lnkd.in/gwim4kJ3

📣 Today we are excited to announce our investment in Anrok, a sales tax platform for software companies and global businesses, as a part of their Series B round led by Khosla Ventures! Anrok is a modern sales tax compliance solution which handles software-specific billing nuances and accounts for the complexities of a distributed workforce. Its platform, integration-forward approach, and robust features make tax compliance seamless for businesses of all sizes. Software companies must grapple with various sales tax laws at the state, county, and sometimes local-level; creating an inevitable challenge that puts outsized pressure on small and mid-sized businesses. These companies need a modern tool which understands billing nuances of software business models to help manage their sales tax compliance. We're excited by what Anrok is building and are thrilled to back Michelle Valentine and Kannan Goundan on their journey 🚀 Check out the full press release here: https://lnkd.in/gCKzFxJB Check out Anrok's Series B announcement here: https://lnkd.in/gwim4kJ3

📣 Today we are excited to announce our investment in Anrok, a sales tax platform for software companies and global businesses, as a part of their Series B round led by Khosla Ventures! Anrok is a modern sales tax compliance solution which handles software-specific billing nuances and accounts for the complexities of a distributed workforce. Its platform, integration-forward approach, and robust features make tax compliance seamless for businesses of all sizes. Software companies must grapple with various sales tax laws at the state, county, and sometimes local-level; creating an inevitable challenge that puts outsized pressure on small and mid-sized businesses. These companies need a modern tool which understands billing nuances of software business models to help manage their sales tax compliance. We're excited by what Anrok is building and are thrilled to back Michelle Valentine and Kannan Goundan on their journey 🚀 Check out the full press release here: https://lnkd.in/gCKzFxJB Check out Anrok's Series B announcement here: https://lnkd.in/gwim4kJ3

When you combine networks, this is the result… Oh what a night 🙌 Featured: Amanda Klarsfeld Lily Becker Maxine Rosen Tanvi Lal Kevin Morris… Savills is a fabulous host, Maxine Rosen! Thank you to Martingale Cognac for providing top notch cocktails 🥃 Stifel Financial Corp. was a proud Sponsor🥰Bradley Ellis Mike Breaux Silvia (Chivi) Galatas Paul McCaffery Amanda Klarsfeld #packedhouse #nyctech

🚨Intuit Ventures’ Adam Coccari invests in early- to mid-stage startups solving small businesses’ biggest problems. He joins us for VC Wednesdays this week.🚨 ✒️ What are your biggest focus areas in 2024? What excites me about Intuit Ventures is the breadth we have — 10 million small businesses and 90 million consumers. It's been a nice shift looking at software for the corner shop, the laundromat and the dentist office that have historically been overlooked by VCs. The big recent change is the incorporation of embedded finance and fintech into software solutions serving small businesses, which has made the opportunity and market size much larger. For example, we looked at a company called Cents that’s doing software for laundromats and dry cleaners, and another called CurbWaste in waste management, which serves truckers and haulers. ✒️ Is AI becoming a focus too?  I'm excited to see AI applied in software, not just chatbots, but things that anticipate the next step in a workflow — providing a person with real-time savings and even taking an action on their behalf. So if you start something, it knows the next nine steps to take. The reason that hasn't happened yet is [because] it wasn't profitable or easy to build that kind of AI for longer-tail software solutions. But now, with the combination of off-the-shelf AI models and fintech, you can profitably serve smaller businesses. ✒️ What’s the No.1 thing you look for in an investment? If you're building for the small business industry, having real experience and understanding of the problems is the No. 1 thing. It allows you to see around the corner and anticipate the needs of your customers. CurbWaste’s founder, for example, was a third-generation trucker and hauler and saw a better way to do it with software. ✒️ You invest in companies that have already achieved product-market fit. How do you assess that? Of course, the metrics around customer retention, churn and revenue growth are important. But we always speak with an active customer about how the company has solved their problems, the alternatives they had and why it was the best fit. The other piece — as someone with a product background — is that I always want to get into the weeds of the product. Even on a first call, one of my favorite things is to see the product and how they are thinking about its features. It’s a good test for if they are continually iterating on the customer's problem and a great indicator that they're on the path to product-market fit. ✒️ Why should founders work with you? We are financially oriented investors and provide access to Intuit as a strategic partner. We can be really agile in terms of the investment process. Once we've invested, we try to open doors and connect them to the right people inside the company. The goal is to help them reach more customers either through partnerships, or in some cases, embed their technology into our product. #VCWednesdays #vc #venturecapital #startups #TechonLinkedIn