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February 5, 2024

Dutch Unicorn DataSnipper Fuels Auditors with $100M Boost

DataSnipper, the brainchild of Dutch innovation, turbocharge auditors' efficiency and intellect through the power of AI

Introducing DataSnipper, a beacon of innovation in the realm of audit automation. In an era where auditors grapple with overwhelming volumes of data, this Dutch startup has emerged as a game-changer, harnessing the power of AI to streamline audit processes and alleviate the burden on financial professionals.

DataSnipper's journey began in 2017, driven by the vision of founders Jonas Ruyter and Maarten Alblas to revolutionize auditing with AI. Fast forward to today, and the company has secured a monumental $100 million in a Series B funding round led by Index Ventures, catapulting its valuation to a staggering $1 billion and earning the coveted title of unicorn. This milestone follows a successful fundraising campaign in 2022, backed by Insight Partners.

With this fresh infusion of capital, DataSnipper is poised to expand its reach across diverse verticals, catering not only to auditors but also to internal auditors, tax advisors, forensic accountants, and beyond. By empowering financial professionals with cutting-edge AI technology, DataSnipper aims to redefine the audit landscape and drive efficiency in data reconciliation.

At the heart of DataSnipper's platform lies its AI-powered automation, seamlessly integrated into familiar tools like Excel. This transformative technology enables auditors to extract and reconcile data from various sources, from invoices to bank statements, with unparalleled speed and accuracy. What was once a laborious task now becomes a breeze, allowing auditors to focus on strategic insights rather than mundane manual work.

The impact of DataSnipper's innovation reverberates globally, with over 400,000 auditors in 125 countries benefiting from its solutions. Leading firms such as Deloitte, KPMG, Ernst & Young, and PwC have embraced DataSnipper, alongside esteemed clients like Hilton, Siemens, and Frontier Airlines. The company's footprint extends even further, with expansion efforts underway in the Asia-Pacific and Latin American markets.

Recent product launches further solidify DataSnipper's position as a trailblazer in audit automation. The Cloud Collaboration Suite facilitates seamless teamwork across distributed teams, while the AI Suite enables natural language queries and automatic analysis of unstructured data, unlocking valuable insights with unparalleled ease.

In the words of CEO Vidya Peters, "DataSnipper lies at the intersection of data creation and verification, serving as a catalyst for economic growth." Auditors echo this sentiment, hailing DataSnipper as a transformative tool that enhances their capabilities and enables them to deliver superior audits to clients.

As DataSnipper embarks on its global expansion journey, backed by the expertise of Index Ventures and visionary leadership, the future of audit automation looks brighter than ever. By addressing the pressing needs of auditors and finance teams, DataSnipper is poised to reshape the audit landscape and usher in a new era of efficiency and innovation.

Josefina Dipaolo
Josefina Dipaolo
Content writer at TechNews180
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