Vertex, which provides comprehensive tax software for businesses, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
Vertex delivers comprehensive tax solutions and derives its revenue from software subscriptions and services. It automates its clients end-to-end indirect tax processes, which includes sales tax, seller's use tax, consumer use tax, and value-added tax, among others. The company has more than 4,000 customers, including over half of the Fortune 500, in over 130 countries.
The King of Prussia, PA-based company was founded in 1978 and booked $336 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol VERX. Vertex filed confidentially on March 30, 2020. Goldman Sachs, Morgan Stanley, BofA Securities, Citi, and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.
