[Funding alert] Bluecopa raises $2.3 mn in seed round led by Blume Ventures

Bluecopa, a finance operations automation platform has raised $2.3 million in its seed funding from Blume Ventures with participation from Titan Capital, T-Fund, Speciale Invest, Force Ventures, Bharat Founders Fund, T2D3, and Amplify.

The round also saw participation from many notable founders including Rajaraman Santhanam (Chargebee), Rohit Chennamaneni (Darwinbox), Krish Subramanian, Asad Khan and Jay Singh (Lambdatest).

The startup plans to use the funds to enhance the platform’s capabilities, hire talent and grow the company’s consumer base.

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Hyderabad-based Bluecopa was founded in 2021 by Raghavendra Reddy, Satyaprakash Buddhavarapu and Nilotpal Chanda, It caters to enterprises around the world with a vision of freeing up financial teams and empowering them to focus on strategic finance.

Satyaprakash Buddhavarapu’s first startup-Tuplejump was a machine learning platform that was later acquired by Apple in 2016.

“With the proliferation of SaaS tools across organisations, real-time business observability is fragmented for finance teams, which means data to decision cycles are significantly high and error-prone. There is an increasing dependency on data teams, expensive and complex tools and clunky Excel spreadsheets to understand business drivers. This is a hair-on-fire problem, particularly in high transaction volume industries such as e-commerce, logistics, financial services etc. Solving these aspects can increase sales by 20% and profitability by 30%. Bluecopa supports the 10M finance community across the globe to significantly reduce time to decision cycles and focus on the numbers that matter”, said, Satya Prakash, Co-founder, Bluecopa.

The startup also manages day-to-day finance operations such as business planning, scenario modeling and variance analysis.

“Having the right financial observability and signals is mission critical for companies with high transaction volumes in today’s age. We really loved Bluecopa’s data-infra-focused approach to solving this critical problem for finance teams, which will be their key differentiator. With Satya having deep expertise in building a strong data infra product and getting a sizable exit to Apple, Neel’s strong credentials as an enterprise sales maestro, and Raghava’s hands-on experience in finance, we couldn’t have asked for a better team to solve a problem that every industry across all geographies is grappling with”, said, Anirvan Chowdhury, Vice President of Blume Ventures.

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About Bluecopa

Bluecopa is Financial Operations (FinOps) & Business Observability SaaS platform for high growth companies.

They are a second-time entrepreneurial team with deep expertise in building teams, products and traction in finance, fin-tech, ERP, AI and data-engineering domains.

They are passionate about solving hard problems and creating real value.

Their Vision is to free up finance teams and empower them to focus on strategic finance.