Singapore-based data processing and workflow automation platform Bluesheets raises $4 million in an Insignia Ventures-led round. This funding comes within a year from the launch of its SaaS product in September 2021, as the company saw rapid adoption with more than 10,000 companies’ financial data now automated over the Bluesheets platform globally. With the funding, Bluesheets looks to reach more businesses in international markets, expand the use cases of its software, and expand its global team across functions to achieve this further growth.
Bluesheets CEO and Co-Founder Christian Schneider shared: “Since we launched Bluesheets, we’ve seen how it has fast become the must-have solution for businesses’ financial tech stacks. From the very beginning we’ve designed our platform to be able to process the full scope of financial data with a comprehensive product offering, enabling Bluesheets to be a plug-and-play solution for any company size or industry. By building our software for flexibility and simplicity, we see Bluesheets ultimately becoming the automation infrastructure of choice, across data points and use cases, for businesses globally.”
Bluesheet’s growth over the past year has been driven by its comprehensive product stack offering an ever-expanding list of financial integrations (more than 11 million to date) to a diverse suite of tools including Slack, Google Drive, and WhatsApp, NLP capabilities catering to more than 75 languages, and data automation processing with more than 100 million data points automated by their AI to date.
“We are excited to partner with Christian and Clare on their journey to build a world-class automation platform. Within a few months after launch, Bluesheets validated its product across several verticals and rapidly grew its paid user base. Enterprise and SMEs alike use the Bluesheets’ platform to optimize the way their data is ingested, normalized, and processed across hundreds of integrated platforms. Bluesheets has been a game-changer for their clients and will continue to deliver on its promise to automate their data stack via deep integration and purpose-built workflows.” said Samir Chaibi, Principal at Insignia Ventures Partners.
Bringing the pieces together for a world-class automation infrastructure
Bluesheets was founded in 2020 by serial entrepreneurs and startup operators Christian Schneider (CEO) and Clare Leighton (COO). They started Bluesheets to address the long-standing inefficiencies experienced by businesses when it comes to financial data consolidation, reconciliation, and processing. These pain points still existed even with the existence of successful automation and integration platforms, most coming from the West, with many companies still unable to fully digitize workflows due to fragmented, incomplete tech stacks and the persistence of offline data records in business processes.
To address these pain points for companies, Bluesheets built a platform that leverages APIs, powerful classification algorithms, and machine learning techniques to ingest unstructured data at scale. Their platform provides businesses with a one-stop solution for processing financial data; connecting all their data sources to any destination automatically.
Importantly, their platform caters to a wide range of geographies, especially Southeast Asia, and a variety of use cases. With growing demand in the wake of the COVID-19 pandemic, Bluesheets will continue to expand their use cases across claims, financing, and beyond to capitalize on the large and immediate opportunity presented by the $470 billion global digital transformation industry.
COO and Co-Founder Leighton shared: “The beauty of Bluesheets is that our platform becomes more effective for all its users the more customers and use cases it encounters. And so in order to reach more customers and cover more use cases, we are continuously investing into top talent especially in engineering and product to push the envelope when it comes to scaling the technology our customers have come to rely on for their data processing and workflows.”
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