Bluecopa, a Hyderabad-based startup specializing in AI-powered finance operations automation, has secured $1.8 million (INR 14.9 crore) in a Pre-Series A funding round. The round saw participation from Blume Ventures, Dallas Venture Capital, and Venture Catalysts.
With this fresh investment, Bluecopa aims to further enhance its AI tools to provide finance teams with better visibility into future trends, while also investing in the development of new software features. Founded in 2021 by Satya Prakash Buddhavarapu, Raghavendra Reddy, and Nilotpal Chanda, the company offers a cloud-native platform that leverages AI to streamline operations and improve efficiency for finance teams.
“FinOps automation is a massive opportunity globally. We are excited to partner with some of the leading VCs to drive Bluecopa’s growth. This funding will fuel our mission to deliver exceptional value to our customers,” said Buddhavarapu. Bluecopa’s solutions cater to finance leaders across industries such as ecommerce, financial services, travel, logistics, and gaming, with notable customers like Yatra, Diversey, and Eka Care onboarded in the past 12 months.
In 2022, Bluecopa raised $2.3 million in a seed funding round led by Blume Ventures, with participation from Titan Capital, Speciale Invest, and Bharat Founders Fund.
The global FinOps market, valued at over $40 billion, is expected to grow at a CAGR of 14.2% from 2024 to 2032, according to a Global Market Insights report. AI adoption in finance is accelerating, with 58% of global finance functions expected to use AI in 2024, up from 37% in 2023. Bluecopa operates in a competitive space alongside companies like Tally Solutions, Zoho Finance Plus, Razorpay, and Clear.
For example, Tally Solutions expects 30-40% revenue growth in FY25 and is planning to expand in the Middle East, Southeast Asia, and Africa. Meanwhile, Razorpay reported an annualized total payment volume of $150 billion in March 2024 and plans to shift its headquarters from the US to India by the end of 2024, in alignment with its IPO plans for the coming years.
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