Avalara preps for IPO

|About: Avalara (AVLR)|By:, SA News Editor

Tax services firm Avalara (AVLR) increases the size of its planned IPO.

The company is now looking to raise $157.5M to $172.5M by selling 7.5M shares in a range of $21 to $23.

Avalara on it market potential: "We believe that the total addressable market for transaction tax compliance solutions is large and underpenetrated. We estimate that the addressable market in the United States alone for the solutions we offer today is over $8 billion."

Avalara lists CCH Incorporated (OTC:WOLTF, OTCPK:WTKWY), ONESOURCE Indirect Tax (NYSE:TRI), Sovos and Vertex in its filing as tax software competitors.

SEC Form S-1