DataSnipper Announces Minority Investment from Insight Partners

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Sep 07, 2022, 09:20 ET

AMSTERDAM, Sept. 7, 2022 /PRNewswire/ -- DataSnipper, the Amsterdam-based software company focused on transforming the financial audit industry, today announces a minority investment in growth equity from global software investor Insight Partners. The investment will be used to accelerate market expansion, attract talent, and further fuel development and enhancement of the company's intelligent automation platform in Microsoft Excel.

Audit work involves many manual and repetitive tasks, and auditors have a strong desire for innovative technology that helps them do this work more efficiently. DataSnipper provides auditors with an intelligent automation platform that dramatically increases the quality and efficiency of common audit procedures. DataSnipper's powerful automation features, embedded into Excel, empower external auditors around the globe to do their work quickly and accurately. Its platform is also starting to be used by financial professionals in other domains, including internal audit, financial control, accountancy, and tax.

In the past year, DataSnipper tripled its customer base (including leading brands like Deloitte, KPMG, EY, RSM and BDO) and served more than 300,000 auditors across 85+ countries. Bootstrapped and profitable since its founding, DataSnipper has financed its growth purely through the value it delivers to its customers.

"It is the perfect moment to team up with a partner that strongly believes in our mission. This minority investment from leading software investor Insight Partners enables us to deliver on our promise to make every auditor in the world more successful and impactful," said Maarten Alblas, founder and Co-CEO at DataSnipper. "DataSnipper's value isn't limited to auditors. As we continue to expand globally, early customers in these new markets are excited about the value DataSnipper delivers, and we're looking to continuously improve our platform and service offerings. The time is now. We're proud to collaborate with Insight Partners in this exciting journey to come."

"Without any investment, DataSnipper has built one of the most valued products we have seen. We are convinced that DataSnipper will make a tangible difference not only for auditors, but for many other finance, accounting and tax professionals as well," said Alessandro Luciano, Investor at Insight Partners. "We are humbled to be partnering with Maarten, Jonas, Kai and the broader DataSnipper team, confident in their success as they continue to Scale Up." Alessandro Luciano will join the DataSnipper board.

DataSnippers aims to become the global brand for intelligent automation for finance professionals. As part of this strategy, the company will have a strong focus on expanding its operations in the US and across Europe, where thousands of auditors are already using DataSnipper daily. The company will also continue to innovate on its "Intelligent Audit Platform" and "Financial Statement Suite" products, making them more powerful for both auditors and other finance professionals.

About DataSnipper

DataSnipper is a tech scale-up focused on transforming the financial audit industry. Founded by Maarten Alblas, Jonas Ruyter and Kai Bakker in 2017, DataSnipper provides Auditors with an intelligent automation platform to drastically increase the quality and efficiency of audit procedures. The impact DataSnipper simply makes their lives easier. DataSnippers team is driven by shared values to help Auditors across the globe to be more successful and impactful.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

SOURCE DataSnipper