What is DAVO Technologies?
DAVO Technologies operates at the intersection of retail technology and financial automation. Founded in 2015 and headquartered in Westbrook, Maine, the company provides a sophisticated service that puts sales tax management on autopilot. By integrating directly with point-of-sale (POS) systems, DAVO automatically sets aside the precise amount of sales tax collected daily, subsequently handling the filing and payment processes. This automated approach eliminates the manual burden of tax compliance for merchants, effectively mitigating the risk of errors and penalties. As a critical infrastructure layer for small and medium-sized businesses, DAVO's platform is essential for retailers looking to optimize their back-office operations and ensure regulatory adherence in an increasingly complex digital economy.
How much funding has DAVO Technologies raised?
DAVO Technologies has raised a total of $2.3M across 4 funding rounds:
Angel/Seed
$1.9M
Private Equity
$100K
Debt
$156K
Debt
$150K
Angel/Seed (2013): $1.9M, investors not publicly disclosed
Private Equity (2014): $100K led by SixThirty
Debt (2014): $156K supported by The Maine Technology Institute Development
Debt (2020): $150K featuring PPP
Key Investors in DAVO Technologies
SixThirty
SixThirty Ventures is a global venture capital and advisory firm specializing in early-stage fintech, insurtech, and digital health companies, focusing on fostering innovation through corporate partnerships.
The Maine Technology Institute Development
The Maine Technology Institute provides grants, loans, and equity investments to foster innovation and economic growth within Maine's entrepreneurial ecosystem.
PPP
Public-Private Partnership
What's next for DAVO Technologies?
With the recent influx of capital, DAVO Technologies is well-positioned to scale its integration capabilities across a broader array of POS platforms. The strategic focus will likely shift toward deepening market penetration and enhancing the platform's predictive analytics features. By further automating the tax lifecycle, the company aims to solidify its role as an indispensable partner for retailers navigating the complexities of multi-jurisdictional tax compliance. Future growth will be driven by continued innovation in financial software, ensuring that DAVO remains at the forefront of the automated tax compliance sector while expanding its footprint in the broader fintech ecosystem.
See full DAVO Technologies company page
