DataSnipper Raises $100M in Series B at $1B Valuation


DataSnipper, an Amsterdam, The Netherlands-based provider of an intelligent automation platform for audit and finance professionals, raised $100M in Series B funding, at $1 Billion valuation.

The round was led by Index Ventures.

The company intends to use the funds to launch two new products to accelerate cloud collaboration and improve AI-powered analysis and insights.

Led by CEO Vidya Peters, DataSnipper provides an intelligent, Excel-based automation platform that brings accuracy to data reconciliation work for auditors and finance professionals. The AI-powered platform embeds automation directly into Excel, by letting auditors simply ‘snip’ numbers from any file, such as an invoice, bank statement or inventory document. These ‘snips’ automatically reconcile against transactions, creating airtight audit trails quickly.

The company recently released new product suites including the Cloud Collaboration Suite, which allows for secure real-time coordination across distributed teams, and the AI Suite, which allows users to ask questions in natural language, and then automatically analyzes and surfaces insights from any unstructured documents and data.

The company serves more than 400,000 auditors across 125 countries – including leading brands such as Deloitte, KPMG, Ernst & Young and PwC, and it is also expanding rapidly across the Asia-Pacific and Latin American markets.