Amsterdam-based DataSnipper, an intelligent automation platform for audit and finance, has raised $100M (approximately €92.53M) in a Series B round of funding. With this round, the company has earned the status of a unicorn.
The investment was led by London-based venture capital firm Index Ventures, valuing the company at $1B.
This development comes after DataSnipper claims to have doubled its customer base and revenue in a year. The investment follows a previous funding round by Insight Partners in September 2022.
“DataSnipper lies at the intersection of macro trends shaping audit – ballooning regulation, talent churn and pent-up pressure for challenger firms beyond the Big Four,” says Hannah Seal, partner at Index Ventures who led the round and will join the board.
“It’s not a technology in search of a use-case – it’s a profound unmet need among auditors and finance teams. DataSnipper’s growth into new sectors comes directly from user demand, as professionals keep asking for the product once they experience how fast and delightful it is.”
“By starting from auditors’ Excel workflows rather than forcing them to migrate to a new platform, adoption is rapid and…
