Sabrix Secures $6.2 Million in New Funding and Names Steve Adams President and CEO, Carolyn Layne SVP Marketing and Eric Ruud SVP of Sales
October 2002 — Sabrix announced a Series B round of funding from existing investors, Mohr, Davidow Ventures and Venture Strategy Partners to expand it sales and marketing efforts. In addition, Sabrix named Steve Adams as President and CEO, and expanded the management team with Carolyn Layne as Senior VP of Marketing, and Eric Ruud as Senior VP of Sales.
About Sabrix
Sabrix, Inc. is a leading provider of transaction tax management for companies of all sizes, enabling finance, tax, and IT professionals to achieve accurate, timely, and cost-effective compliance for sales tax, use tax, Value Added Tax (VAT), excise tax and industry-specific taxes and fees. The Sabrix Application Suite serves global enterprises such as Amazon.com, BASF, Cisco, DTE Energy, IBM, QUALCOMM, Sportsman’s Warehouse, and York International. The Sabrix Application Suite seamlessly connects to all financial applications requiring the determination, calculation, and recording of transaction taxes. The company also offers the Sabrix Managed Tax Service™ (MTS), an outsourced transaction tax compliance service that helps finance departments of small-and-medium-sized businesses eliminate the hassle, control their audit exposure, and reduce the total cost of sales tax, use tax, and VAT compliance. Sabrix MTS seamlessly integrates with a company’s existing accounting and e-commerce systems, and, similar to outsourced payroll services, operates as a trusted extension of a company’s finance department to address tax compliance from start to finish: address validation, tax rate maintenance, tax determination and calculation, returns preparation and filing as well as audit research and documentation. For more information, please visit www.sabrix.com.
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Kurt Foeller
Foeller Communications
sabrix@foellercom.com