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Blue Dot raised $32M Ibex Investors and Lutetia Technology Partners

Ibex Investors and Lutetia Technology Partners led the $32 million fundraising round that Blue dot, formerly known as VATBox, recently concluded. Blue dot is the creator of the industry-leading AI-driven, cloud-based tax compliance platform. Target Global, Viola, and Lamaison Partners—previous investors—also took part in the round.

With the increase in demand for digital tax compliance solutions, the investment enables Blue dot to provide its innovative solutions to additional clients in North America and Europe. With the use of Blue Dot’s technology, an expensive, complicated, and hazardous procedure may be digitised.

Gal Gitter, a Partner at Ibex Investors, will join the Blue dot Board of Directors, contributing to the direction of corporate strategy as the business looks to grow its clientele and make its distinctive platform available to more customers globally. Gitter said that he thinks Blue dot can transform the way businesses manage accounting and its tax consequences for their costs.

Isaac Saft, CEO of Blue dot, said that since our creation, we’ve received significant recognition and a high rate of acceptance for our platform as part of a bigger worldwide tax compliance digitization trend. “After performing an exceptionally extensive due diligence process on our Platform and AI, SAP Concur selected Blue dot as its unique integrated Tax Assurance solution to be implemented for their client portfolio.

To support the next stage of our expansion strategy, we have obtained finance from reputable American investors. At Blue Dot, we’re at an exciting phase right now, and we’re tremendously appreciative to all of our clients, partners, and investors. Rob Perdue, a partner at Lutetia Technology Partners and a former chief operating officer of The Trade Desk, will also serve the board of directors of the business.

We believe Blue dot is ideally positioned to assist the CFO office and tax departments in fundamentally rethinking how they accomplish tax compliance with a strong ROI in an era where digitization has become a strategic requirement for every forward-thinking firm, the company said. Perdue said that Blue Dot will alter how businesses manage transactional data and its taxation in the future.

A specialised team at Blue Dot, which has locations in London, Paris, Munich, New York, and Tel Aviv, is now assisting many of the most well-known Fortune 1000 organisations in controlling spending and lowering compliance mistakes. Please visit www.bluedotcorp.com for additional information.

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