What is DAVO Technologies?
Founded in 2015 and headquartered in Westbrook, Maine, DAVO Technologies provides a sophisticated automated sales tax service that integrates directly with retailer point-of-sale (POS) systems. The platform functions by capturing sales data in real-time, setting aside the precise tax liability daily, and managing the filing and payment process automatically. This value proposition effectively removes the administrative burden and human error associated with manual tax compliance, positioning DAVO as a critical infrastructure partner for small to mid-sized businesses. By embedding itself within the existing POS ecosystem, the company ensures seamless adoption and high retention rates among its merchant base.
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
The Maine Technology Institute Development
Maine Technology Institute (MTI) provides grants, loans, equity investments, and services aimed at fostering innovation within Maine's economy. Their offerings are designed for businesses, organizations, and entrepreneurs seeking to develop groundbreaking ideas and projects.
SixThirty
SixThirty Ventures, LLC is a global venture capital and advisory firm that focuses on early-stage companies in fintech, insurtech, privacy, and digital health. The firm connects startups with corporate institutions to foster growth and innovation.
PPP
Public-Private Partnership
What's next for DAVO Technologies?
With the recent strategic investment, DAVO Technologies is well-positioned to expand its market footprint and deepen its integration capabilities across a broader array of POS platforms. The company's focus remains on enhancing its automated tax engine to accommodate evolving multi-jurisdictional tax laws, thereby providing a robust shield for retailers against compliance risks. As the retail landscape continues to digitize, DAVO's ability to leverage real-time data for financial automation will likely attract further interest from institutional partners looking to capitalize on the growing demand for fintech-driven operational efficiency. Future growth will likely center on scaling its enterprise-grade offerings and potentially exploring new verticals within the broader retail technology ecosystem.
See full DAVO Technologies company page
