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Bluecopa, an artificial intelligence (AI) powered finance operations automation platform, on Wednesday claimed to have raised $1.8 million in a pre-Series A round, an amount which the firm said will be used to expand its market reach, improve AI capabilities, and advance product development.
The funding round was led by Blume Ventures, Dallas Venture Capital, and Venture Catalysts.
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Founded in 2021, the company offers financial operations (FinOps) solutions for teams using data intelligence and automation. Bluecopa caters to industries such as eCommerce, financial services, travel, logistics, and gaming.
“FinOps automation is a massive opportunity globally. We are excited to partner with some of the leading VCs to drive Bluecopa’s growth. This funding will fuel our mission to deliver exceptional value to our customers,” said Satya Prakash Buddhavarapu, co-founder and chief executive officer (CEO), Bluecopa.
The company was founded by Nilotpal Chanda, Raghavendra Reddy, and Satya Prakash Buddhavarapu, prior to which the founders established tax management platform Optotax. The firm was acquired by neobanking platform Open.
Buddhavarapu’s machine learning firm Tuplejump was acquired by global tech giant Apple in 2016.
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“We are excited to support Bluecopa’s commitment to solving end-to-end finance operations challenges for enterprises. The team’s deep industry expertise combined with their best-in-class product is already delivering measurable outcomes for their customers,” Sanjay Nath, co-founder, Blume Ventures.
Gokul Dixit, Venture Partner, Dallas Venture Capital (DVC), said, “We look forward to supporting Bluecopa with our firm’s DVC Advantage program by leveraging our cross-border Partner and Advisor network during its next phase of growth. With its focus on innovation and customer success, we are confident that Bluecopa will enable finance teams across industries and leverage their data more effectively to create long-term value for all stakeholders.”
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