DAVO Technologies

b2b fintech

FOUNDING YEAR: 2011
LOCATION: United States
Last Update: 17/07/2020

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About

DAVO Sales Tax is the automated sales tax filing and collection solution for small to mid-sized merchants, franchise providers, and governments. DAVO’s patented process automatically and passively collects, files and pays sales tax for a merchant utilizing ACH and card payments networks. It integrates with a merchant’s POS, setting aside the total sales tax collected daily, holding it safe and secure.

Focus

PRODUCTS & SERVICES

Automated sales tax cash management solution for small and medium-sized businesses DAVO Sales Tax for merchants: It integrates with POS and accounting software. DAVO Sales Tax for government DORs: It offers states an automated end-to-end sales tax collection solution that does not involve additional integration or administrative costs. DAVO FranchisePay for franchisors: It integrates with the POS system used by franchisees and automatically collects franchise royalty and advertising fees on a daily basis.

REVENUE MODEL

The company follows monthly subscription revenue model. It starts at $39.99 per month.

MAIN CLIENTS

The major clients are Salon North

Frame Pizzeria

WeaponCraft

Waldos Vaps

etc.

EXISTING PARTNERSHIPS

DAVO Sales Tax works with point-of-sale systems including Clover

Revel

QuickBooks

Square

Poynt

ABC Financial

etc. Recently

it partnered with Poynt

the creator of the Poynt Smart Terminal. (Oct. 2017)

COMMENT

The DAVO process is a patented methodology for the passive collection of both current and back sales tax owed to government tax authorities. DAVO integrates with a user's POS systems and collects tax on a daily basis, keeping sales tax revenue separate and secure from the user's general operating funds. DAVO launched its premier product, DAVO Sales Tax on Feb. 20, partnering with First Data/Clover.

People

BOARD MEMBERS AND ADVISORS

Greg Kidd

Joe Bourdow

Peter Kools

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Anania & Associates Investment Company

Maine Technology Institute

SixThirty

KEY EMPLOYEES:

David Joseph (Chairman); Peter Kools (CTO); Owen Brown (CEO)

David Joseph

Momentum

FUNDED

YES

TOTAL FUNDING

$2.1 M

DATE OF LAST FUNDING

Oct 2018

TOTAL FUNDING COMMENT

Seed

SEED & PRIOR FUNDING

$1.1 M

SEED CLOSED ON

Oct 2017

FUNDING SERIES

OTHERS  · $1 M · Oct 2018

LISTED

NO

Innovation Programs

BASICS

FOUNDING YEAR:

2011

LOCATION:

United States

Views:

95 VISITORS | 181 VIEWS
LATEST FUNDING ROUND

$2.1 M

TOTAL EMPLOYEES
11-50

About

DAVO Sales Tax is the automated sales tax filing and collection solution for small to mid-sized merchants, franchise providers, and governments. DAVO’s patented process automatically and passively collects, files and pays sales tax for a merchant utilizing ACH and card payments networks. It integrates with a merchant’s POS, setting aside the total sales tax collected daily, holding it safe and secure.

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Focus+
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People+
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Innovation Programs

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