Bluesheets, a Singapore-based company that provides AI-driven process automation technology, netted $6.5 million in Series A funding this week. The startup, which launched in 2020, said the cash infusion would be devoted to further developing its AI capabilities, growing in APAC and the U.S., and ramping up hiring by adding experienced staff.
The company’s technology uses external and internal financial data to train proprietary AI models that guide process automation in the finance department across a variety of industry verticals. In a statement announcing the Series A funding round, it noted the difficulty businesses face when processing unstructured physical and digital data from disparate sources in disparate languages and currencies. It claims its AI improves their ability to automate financial processes under those conditions.
“Our commitment to innovation and addressing the evolving needs of enterprise clients positions us as a strategic partner in their digital transformation journey,” said Bluesheets’ COO and Co-founder Clare Leighton. “The funding will not only fuel our expansion into new markets but also enable us to provide more integrations to off-the-shelf tools, adding to our current selection that includes Google, Microsoft, SAP and more.”
The funding round was led by Illuminate Financial with participation from existing investors 1982 Ventures, Antler Elevate and Insignia Venture Partners.