DataSnipper Raises $100M to Automate Accounting Work Amid Talent Shortage
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DataSnipper, an AI software startup, raised $100M at a $1B valuation to automate accounting and auditing tasks amid an accountant shortage.
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The software helps extract and link data to spreadsheets to show evidence for numbers, saving time on tedious "ticking and tying" tasks.
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By automating routine work, DataSnipper aims to retain staff at accounting firms by making their jobs less tedious.
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DataSnipper is used by Big 4 accounting firms and companies like Hilton, Siemens, and Frontier Airlines for financial audits and regulatory compliance.
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The large market and potential for disruption attracted VC firm Index Ventures to lead DataSnipper's latest funding round.