The Singapore-based SaaS startup Bluesheets has secured $2.05 million to scale its back-office automation platform globally.
Bluesheets, an AI-based data transformation platform, has secured a $2.05 million (US$1.5 million) seed funding round led by the Australian early-stage investment group Investible.
This is the twelfth overseas investment made from Investible's inaugural fund, demonstrating its commitment to an increased presence in Southeast Asia. The oversubscribed round in the Singapore-based startup also saw participation from Antler, 1982 Ventures, Kiplex Ventures and Kistefos.
Bluesheets was launched by former Uber, Rocket Internet, Delivery Hero and Citi Group executives Christian Schneider and Clare Leighton in 2021. Since launch, Bluesheets has acquired enterprises and SME customers in over 10 countries and has added over 100 paying customers in August 2021.
“Companies today are faced with a difficult choice – either process the valuable data they are sitting on manually, or invest tremendous time and resources in accessing it. What if we could change all of that with a single tool that ingests, classifies, exports and is easy to implement.” said Christian Schneider, co-founder and CEO of Bluesheets.
“Bluesheets connects tools like WhatsApp, your email inbox, or your revenue channels seamlessly with accounting platforms like Xero or Quickbooks and many other third party apps. We provide input and export APIs for third party platforms to plug into the system for greater interoperability and vertical integration within the Bluesheets ecosystem."
The Singapore-based company leverages APIs, powerful classification algorithms and machine learning techniques to ingest unstructured data at scale and provides a one stop-solution for processing financial data. With growing demand in the wake of the COVID-19 pandemic, there is a large and immediate opportunity presented by the $469.8B global digital transformation industry.
“Every business leader understands the inherent complexities of managing their financial back office, particularly at scale. Bluesheets is a real pioneer of Industry 4.0 capabilities -- equipping businesses with the ability to automatically ingest data from a huge variety of sources and derive insights in real time within a turnkey platform. We are excited to support the team as they continue to scale.” said Jake Booker, Principal at Investible.
Having one foot in Asia and one in Australia has also helped the extraordinarily dedicated Bluesheets co-founders think global first.
“Our data categorization is language and currency agnostic, so wherever you are, Bluesheets can help. For us, simplicity was key - it’s an easy decision for any business if you can connect your favourite business tools within a few clicks. Something tedious and complex is now automatic and simple” Clare Leighton, co-founder and COO of Bluesheets said.
International brands Pizza Express, Osome, Nextpay and Guzman y Gomez are amongst their users.
“By connecting our systems over bluesheets, we’ve entirely eliminated the need to build and maintain integrations ourselves. It’s been a huge cost saving. Best of all, with all revenue channels now connected to bluesheets, our entire management team can view performance each day, we’re no longer waiting weeks to see the numbers” said Guzman y Gomez Principal Josh Bell.
Bluesheets works with SMEs, accounting firms and large enterprise clients. The self-serve SaaS model and tiered subscriptions allows businesses of all sizes to easily get started with their solution. Furthermore, the company has a partnership-friendly approach, connecting with local fintech platforms, Point-of-Sales (POS) platforms and messaging tools to make more connections available to users.
The funds will be used to scale Bluesheets to all markets while continuing to expand offering to new client segments.
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