14 June 2022 – Singapore – Singapore-based data processing and workflow automation platform bluesheets raises US$4m in a Insignia Ventures-led round. This funding comes within a year from the launch of their SaaS product in September 2021, as the company saw rapid adoption with more than 10k companies’ financial data now automated over 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 (see openings here) to achieve this further growth.
“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.” – Bluesheets CEO and co-founder Christian Schneider
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.” – 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 US$470B global digital transformation industry.
“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.” – COO Clare Leighton
Bluesheets was founded in 2020 as an AI-based data transformation platform that automates enterprise accounting and enables financial automation for local and global businesses. Designed to process the full scope of financial data and is flexible, easy to use and customizable to suit any industry or company size, bluesheets’ comprehensive product stack offering an ever-expanding list of financial integrations to a diverse suite of tools including Slack, Google Drive, and WhatsApp, NLP capabilities, and data automation processing. The company helps to connect online and offline data and provide one digitized data lake that users can operationalize in real-time with their suite of integrations. The company was founded by serial entrepreneurs and startup operators Christian Schneider (CEO) and Clare Leighton (COO) to address the long-standing inefficiencies experienced by businesses when it comes to financial data consolidation, reconciliation and processing. Learn more about bluesheets and join their team.
About Insignia Ventures Partners
Insignia Ventures Partners is an early-stage technology venture capital firm with US$450+ AUM partnering with unstoppable founders to build great companies in Southeast Asia. Since 2017, we have invested in 70+ emerging technology companies across industries and geographies in the region, including unicorns Carro, Ajaib, GoTo, and Appier, and category leaders including Payfazz, Shipper, tonik, and Flip. We partner early with founders and support them from seed through growth stage as their companies create meaningful impact for millions of people in Southeast Asia and beyond. With our team of 30+ investment and operating professionals who bring together decades of experience and proprietary networks, we equip our founders with the tools they need for growth. Learn more on our website and Insignia Business Review. Follow us on LinkedIn, Instagram, and Twitter.
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