Summary:
Bluebook raised €2.8 million in funding, with a €2.4 million pre-Seed round.
AI-powered software aims to revolutionize the accounting industry.
Key features include 10x transaction processing efficiency and 30% reduction in research time.
Plans for expansion in the Nordics and Europe in 2025.
Collaboration with firms like Baker Tilly and Klara Consulting.
Bluebook's Major Funding Round
Stockholm-based Bluebook, an AI-powered software for accounting firms, has successfully raised €2.8 million in funding, including a €2.4 million pre-Seed round aimed at boosting its expansion across the Nordics and Europe.
The funding was led by EQT Ventures, with additional support from Y Combinator and notable angel investors like Huey Lin (Founding COO of Affirm), Laura Modiano (OpenAI), and Carles Reina (Eleven Labs).
Philip Andersson, CEO and Co-founder of Bluebook, shared insights on the current state of the accounting industry, stating:
“The accounting industry is at an inflection point. Complexity is increasing, the market is consolidating, AI is on the rise which is leaving firms scattered. We’re just scratching the surface of what’s possible today. Bluebook is not just another accounting tool, it’s the future of a fundamentally new way for firms to operate.”
The Vision Behind Bluebook
Founded in 2024 by Filip Stål, Jonathan Andersson, and Philip Andersson, Bluebook aims to create AI agents that automate accounting tasks, enabling firms to focus on high-value advisory work. Their technology seeks to transform the €644 billion accounting sector, addressing challenges like skills shortages and an aging workforce.
Key Features of Bluebook's Software
Bluebook's software enhances productivity and decision-making through features such as:
- Transaction Processing: Review transactions 10x more efficiently while maintaining compliance and accuracy.
- Research Efficiency: Cut research time by 30% on tax, VAT, and compliance topics, providing high-quality answers with citations.
- Advisory Expansion: Allows junior accountants to confidently handle complex client cases, thus expanding their book of business.
The platform also proactively suggests tax-optimal booking and offers insights for informed decision-making, all through a user-friendly interface.
Future Expansion Plans
Bluebook is already collaborating with leading Nordic firms like Baker Tilly and Klara Consulting, with plans to onboard more firms across Sweden, Norway, Finland, and Denmark this quarter. The startup is set to continue its expansion in the Nordics and Europe in 2025.
Kaushik Subramanian, Partner at EQT Ventures, emphasized the transformative potential of AI in accounting:
“Investing in Bluebook reflects our belief in the transformative power of AI to enhance human potential, not replace it.”
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