Blue dot, a provider of AI tax accounting services, has secured a $32m funding round led by Ibex Investors.
The investment round saw participation from Lutetia Technology Partners, with former investors La Maison Partners, Viola, and Target Global also contributing.
The funding will be used to continue the group’s growth, addressing demand from firms for user-friendly accounting tools.
Issac Saft, co-founder and CEO at Blue dot, said: “Since our founding, we’ve enjoyed tremendous recognition and a high rate of adoption for our platform as part of a larger global tax compliance digitalization trend.
“SAP Concur chose Blue dot as its exclusive integrated Tax Assurance solution to be deployed for their client portfolio, after conducting an extremely thorough diligence process on our platform and AI.
He added: “We’ve secured funding from top US investors to drive the next phase of our growth strategy.
“It’s an exciting time at Blue dot, and we’re incredibly grateful to our customers, partners and investors.”
Blue dot recently rebranded from its former name VATBox, so as to further expand into the US market where the concept of VAT is not as common.
Founded in Israel, the group now operates across offices in the US, UK, and France, supporting global fortune 1,000 companies in controlling spending and reducing accounting errors.