Stockholm-based Bluebook, an AI-powered software for accounting firms, has announced it has raised €2.8 million in funding including a €2.4 million pre-Seed round to continue its expansion in the Nordics and Europe.
The funding round was led by EQT Ventures and a separate capital injection from Y Combinator. Angel investors in the pre-Seed round include Huey Lin (Founding COO of Affirm), Laura Modiano (OpenAI) and Carles Reina (Eleven Labs).
Philip Andersson, CEO and Co-founder of Bluebook, commented: “The accounting industry is at an inflection point. Complexity is increasing, the market is consolidating, AI is on the rise which is leaving firms scattered. We’re just scratching the surface of what’s possible today. Bluebook is not just another accounting tool, it’s the future of a fundamentally new way for firms to operate. Allowing them to focus more on high-value advisory work. We believe AI should work alongside accountants, not against them. And with the backing of EQT, YC, and some of the world’s AI and fintech leaders, it allows us to pursue that future.”
Founded in 2024 by Filip Stål, Jonathan Andersson, and Philip Andersson, Bluebook is building AI agents for accounting firms, designed to put businesses’ books on autopilot and accelerate advisory. Their aim is to enable accountants to retrieve information, make decisions, and execute work, cutting research time, expanding advisory capacity, and ensuring compliance.
According to Bluebook, the accounting sector, an industry worth €644 billion, is on the brink of a technological transformation driven by current challenges such as acute skills shortages and an ageing workforce, leaving many firms struggling to attract new talent.
The startup’s software enhances productivity and decision-making, notably with its AI assistant delivering real-time research and documentation curation, and providing firms with efficient access to essential information. The software consolidates globally applicable accounting principles into a central repository of knowledge, serving as a pivotal platform for the collection and analysis of crucial financial data.
It proactively offers tax-optimal booking suggestions and delivers insights that empower users to make informed decisions, all through a user-friendly interface.
Key features of the Bluebook solution:
- Process and review transactions 10x more efficiently while ensuring compliance and accuracy.
- Cut research time by 30% on topics such as tax, VAT, and compliance. It provides high-quality answers with citations to trusted sources.
- Scale advisory efforts by allowing junior and generalist accountants to confidently take on more complex client cases and expand their book of business.
Bluebook’s long-term vision is to deliver “self-driving” accounting, enabling users to go beyond bookkeeping and allocate more time to higher added value advisory services.
The startup is already working with leading Nordic firms like Baker Tilly & Klara Consulting and has a backlog of firms onboarding across Sweden, Norway, Finland, and Denmark this quarter.
In 2025, Bluebook will continue its expansion in the Nordics and Europe.
Kaushik Subramanian, Partner at EQT Ventures, added: “Investing in Bluebook reflects our belief in the transformative power of AI to enhance human potential, not replace it. By taking over repetitive and mundane tasks, AI enables accountants to redirect their skills towards insightful analysis and strategic decision-making. This collaboration between human intuition and machine precision is the key to unlocking unprecedented efficiencies, and we are thrilled to support Bluebook as they lead this innovative shift in the accounting field.”