Supervizor Raises 20 Million Euros to Accelerate in the United States

Supervizor is an automated analysis solution for accounting and operational data. Thanks to its technology, the startup helps companies automate internal accounting and operational controls. “We have an approach similar to that of an external auditor, except that instead of only checking a sample at the end of the year, we look at all flows throughout the year,” explained Alban Clot, founder and co-CEO of Supervizor.

Supervizor announced that it had completed a funding round of 20 million euros, including 15 million in equity. The funding round was led by Orange Ventures, with the participation of Wille Finance, La Maison Partners, NewAlpha Asset Management, Adelie Capital and ISAI. At the end of 2017, the startup completed a seed round of 3 million euros, combining equity and debt. “Until now, we had raised very little compared to our maturity ,” commented Arnaud Merlet, co-CEO of Supervizor.

Supervizor takes on the American market

“Thanks to the technology platform we have developed, we are able to automatically detect errors and fraud among millions of transactions. This helps companies put their accounts in order, allows them to produce quality financial information and thus improve their governance,” said Alban Clot . “We also allow companies to detect compliance or compliance risks,” he added.

In almost eight years, Supervizor has already been adopted by more than 70 companies in various industries around the world, such as Michelin, Lacoste, Club Med, Diebold Nixdorf, Hutchinson, Cirrus Logic and Ikea. “Over the last three years, we have had sustained growth,” says Arnaud Merlet. Growth explained in part by international development, since Supervizor is present in more than 40 countries. “From the start, we designed the product for the international market. We started on the French market, but we very quickly worked with global clients,” comments Arnaud Merlet.

With this significant milestone, Supervizor is ready to intensify its expansion, particularly in the United States. Two years ago, Supervizor participated in Business France’s Impact USA program. “This allowed us to better understand the US market, its potential, its difficulties. Right after, we opened an office in New York,” explained Alban Clot.

Despite this, Supervizor did not add American funds to its capital in this round. “We have chosen European funds aligned with our DNA. We did not need to have American capital, however, we have a General Manager on site and we surrounded ourselves with senior American advisors ,” comments Arnaud Merlet.

__

(Featured image by  Stock Birken via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Maddyness. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us