Singapore Financial Data Startup Raises $6.5 Million Series A To Double Down On AI
Summary
What we liked about Bluesheets is that not only have they implemented AI themselves, but they can actually form the foundational layer for more AI adoption in financial services.Founded in 2020, Bluesheets develops AI-powered data entry and management tools that aim to help companies process their financial data for accounting, reporting and other operations. The startup claims it can update records in real-time while integrating with other enterprise software tools from Google, Microsoft, Quickbooks, Stripe and SAP.The fresh capital will go towards onboarding new staff and expanding internationally, as well as building new AI products, Bluesheets says. To date, more than 200 small and medium, to large multinationals with operations across Asia, the U.S. and the U.K. use Bluesheets, including restaurant chain Pizza Express and insurance company MSIG.The opportunity with large language models is so vast that I dont think people understand yet what this can lead to, says Christian Schneider, CEO and cofounder of Bluesheets, in a video interview. Founded in 2015, Sprout Solutions offers payroll automation and data-driven analytics for employers, and helps them distribute salary advances for employees. Even though factors such as complexities associated with AI model development and higher interest rates have restrained investors, the report authors wrote, the flow of funding round investment into AI companies was consistent in 2023, while the underlying forces driving investment remain strong.