Stockholm-based Bluebook, an AI-powered software program for accounting corporations, has introduced it has raised €2.8 million in funding together with a €2.4 million pre-Seed spherical to proceed its enlargement within the Nordics and Europe.
The funding spherical was led by EQT Ventures and a separate capital injection from Y Combinator. Angel buyers within the pre-Seed spherical embody Huey Lin (Founding COO of Affirm), Laura Modiano (OpenAI) and Carles Reina (Eleven Labs).
Philip Andersson, CEO and Co-founder of Bluebook, commented: “The accounting business is at an inflection level. Complexity is rising, the market is consolidating, AI is on the rise which is leaving corporations scattered. We’re simply scratching the floor of what’s attainable at the moment. Bluebook is not only one other accounting instrument, it’s the way forward for a basically new manner for corporations to function. Permitting them to focus extra on high-value advisory work. We consider AI ought to work alongside accountants, not towards them. And with the backing of EQT, YC, and a number of the world’s AI and fintech leaders, it permits us to pursue that future.”
Based in 2024 by Filip Stål, Jonathan Andersson, and Philip Andersson, Bluebook is constructing AI brokers for accounting corporations, designed to place companies’ books on autopilot and speed up advisory. Their goal is to allow accountants to retrieve data, make selections, and execute work, slicing analysis time, increasing advisory capability, and guaranteeing compliance.
In accordance with Bluebook, the accounting sector, an business value €644 billion, is getting ready to a technological transformation pushed by present challenges reminiscent of acute abilities shortages and an ageing workforce, leaving many corporations struggling to draw new expertise.
The startup’s software program enhances productiveness and decision-making, notably with its AI assistant delivering real-time analysis and documentation curation, and offering corporations with environment friendly entry to important data. The software program consolidates globally relevant accounting rules right into a central repository of data, serving as a pivotal platform for the gathering and evaluation of essential monetary information.
It proactively provides tax-optimal reserving options and delivers insights that empower customers to make knowledgeable selections, all via a user-friendly interface.
Key options of the Bluebook answer:
Course of and overview transactions 10x extra effectively whereas guaranteeing compliance and accuracy.
Reduce analysis time by 30% on matters reminiscent of tax, VAT, and compliance. It offers high-quality solutions with citations to trusted sources.
Scale advisory efforts by permitting junior and generalist accountants to confidently tackle extra complicated shopper instances and broaden their guide of enterprise.
Bluebook’s long-term imaginative and prescient is to ship “self-driving” accounting, enabling customers to transcend bookkeeping and allocate extra time to larger added worth advisory companies.
The startup is already working with main Nordic corporations like Baker Tilly & Klara Consulting and has a backlog of corporations onboarding throughout Sweden, Norway, Finland, and Denmark this quarter.
In 2025, Bluebook will proceed its enlargement within the Nordics and Europe.
Kaushik Subramanian, Companion at EQT Ventures, added: “Investing in Bluebook displays our perception within the transformative energy of AI to reinforce human potential, not substitute it. By taking on repetitive and mundane duties, AI permits accountants to redirect their abilities in the direction of insightful evaluation and strategic decision-making. This collaboration between human instinct and machine precision is the important thing to unlocking unprecedented efficiencies, and we’re thrilled to assist Bluebook as they lead this progressive shift within the accounting subject.”
