DAVO Technologies

DAVO Technologies

  • FOUNDING YEAR: 2011
    LOCATION:
    United States
    REGION:
    Maine
    Last Update:
    24 Dec, 2019

Description

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:
Viewable by subscribers only
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

FOUNDERS:
David Joseph, Owen Brown
Board Members and Advisors:
Greg Kidd, Joe Bourdow, Peter Kools
NUMBER OF EMPLOYEES:
11-50
INVESTORS:
SixThirty, Maine Technology Institute
KEY EMPLOYEES:
David Joseph (Chairman); Peter Kools (CTO); Owen Brown (CEO)

TRACTION

Insufficient information for accurate analysis

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$5.01 Millions
DATE OF LAST FUNDING:
Mar 2016
TOTAL FUNDING COMMENT:
Seed
SEED & PRIOR FUNDING:
$4.01 Millions
SEED CLOSED ON:
Oct 2017
FUNDING SERIES:
Others
$1 Million Closed: Oct 2018
LISTED:
NO

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