Blue dot, formerly known as VATBox, a Waltham, Mass.-based maker of an AI-driven, cloud-based tax compliance platform, closed a $32m funding round.
The round was led by Ibex Investors in partnership with Lutetia Technology Partners. Previous investors Lamaison Partners, Viola and Target Global also participated in the round. In conjunction with the funding, Gal Gitter, Partner at Ibex Investors, will join the Blue dot Board of Directors, alonf with Rob Perdue, Partner at Lutetia Technology Partners and former COO of The Trade Desk.
The company intends to use the funds to expand adoption of its solutions to North American and European customers.
Led by Isaac Saft, CEO, Blue dot provides a technology-based and dynamically-updated financial platform for employee-driven transactions. The company’s Tax Compliance Platform leverages digitization, tax compliance and automation to process and analyze a company’s employee spend data for VAT, Taxable Employee Benefits and Corporate Income Tax, in real-time.
Blue dot has offices in London, Paris, Munich, New York and Tel Aviv and a dedicated team currently serving many Fortune 1000 companies.