Tax automation software provider Avalara announced on Monday that it has confidentially submitted paperwork for a U.S. initial public offering (IPO), signaling a potential return to public markets as investor interest in new listings continues to rise.
After a slow start to the year, U.S. IPO activity has begun to accelerate, fuelled by renewed investor demand and improving market conditions.
Avalara, originally listed on the public markets in June 2018, was taken private in 2022 following its $8.4 billion acquisition by Vista Equity Partners, including debt.
Founded in 2004, Avalara operates a cloud-based tax compliance platform that helps businesses automate sales tax calculation, reporting, and filing across multiple jurisdictions.
Details regarding the timing, size, and terms of the proposed IPO have not yet been disclosed.
