Avalara is going public — again.
The tax software giant confidentially filed for an IPO on Monday, signaling plans to become public company. It’s part of a small-but-growing wave of companies starting to hit the public market as the IPO window reopens.
Avalara, which helps online retailers and others adhere to complex tax regulations, previously went public in 2018 and was acquired in a $8.4 billion deal with Vista Equity Partners in 2022.
The company’s market capitalization was above $16 billion during the pandemic and its quarterly revenue topped $200 million before the Vista deal.
Avalara CEO Scott McFarlane co-founded Avalara 14 years ago with Rory Rawlings and Jared Vogt on Bainbridge Island, Wash. Rawlings left in 2015 and Vogt left in 2012.
Avalara relocated its headquarters to North Carolina after the Vista acquisition and downsized its Seattle office. The company still maintains a “significant presence” in the Seattle region, according to a spokesperson.
The company has 5,300 employees worldwide. It recently hired Seattle-based marketing vet Adrianna Burrows as executive vice president and chief marketing officer.
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