Blue dot

Blue dot (formerly VATBox) was founded in 2013, it is the developer of a cloud financial platform for transactions. The tax compliance service uses digitalization and automation to process and analyze data on expenses of business employees in terms of VAT, taxable employee benefits and corporate income tax. The company has offices in New York, London, Paris, Munich, Tel Aviv.

History

2021: Raising $32 million, including from Target Global

In mid-April 2021, Blue dot raised $32 million. Ibex Investors, Lutetia Technology Partners, as well as previous investors Lamaison Partners, Viola and Target Global, founded by Russians, took part in the investment round.

In connection with the investment in Blue dot, Ibex Investors partner Gal Gitter, along with Lutetia Technology Partners partner Rob Purdue and former operations director of The Trade Desk, will join Blue dot's board of directors. The company intends to use the funds received to expand the geography of its services to customers in North America and Europe.

Target Global, founded by Russians, has invested in the developer of the Blue dot tax platform

The last time Blue dot attracted investment in 2017. As part of the investment round of series B, the company received $20 million, the round was led by Viola, the Blue dot valuation then reached $120 million. Although Blue dot does not disclose the value estimate after the last investment round, it is likely to be significantly higher.

Blue dot works with companies such as Amazon, the tobacco giant BAT and Dell, the company also has partnerships with one of the largest companies in the field of expense accounting, SAP Concur, which uses Blue dot together with its expense data entry tool, which automatically reads expenses and makes appropriate distributions to simplify the work of employees and accountants.^[1]

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