Amsterdam’s unicorn DataSnipper acquires US-based UpLink and launches DocuMine

DataSnipper, an Amsterdam-based automation platform focused on audit and finance, has announced two key developments: the acquisition of UpLink, a secure cloud-based document request platform, and the launch of DocuMine, an AI-driven document validation tool. 

These initiatives aim to strengthen the Dutch company’s efforts to build an AI-powered audit ecosystem. 

The announcement follows the company’s $100M Series B funding, led by Index Ventures, which valued DataSnipper at $1B.

AI addressing the challenges in the global audit industry

The global audit industry faces challenges as auditors spend nearly 60 per cent of their time on document-heavy tasks, leading to reduced productivity, burnout, and a higher risk of errors, reports The Accountant.

DataSnipper’s new solutions, UpLink and DocuMine, aim to address these issues by automating document processing and data analysis using large language models (LLMs) and advanced algorithms. 

These tools transform unstructured data into real-time insights, helping auditors focus on strategic work while maintaining control. This shift is expected to enhance efficiency and reshape the future of audit and finance.

Vidya Peters, CEO of DataSnipper, says, “UpLink and DocuMine together, future-proof the audit value chain, from document intake to data analysis, offering time savings and deeper insights at every step – whether in the cloud-based Prepared by Client (PBC) portal, or in Excel. By introducing AI earlier in  the process, we give auditors time back to focus on more strategic work.”

What does UpLink offer?

Founded in 2022, UpLink is an AI document management platform designed for audit and accounting teams. It uses advanced machine learning to automate and speed up document reviews, cutting down the time for tasks that usually take hours or days. 

UpLink’s AI-powered portal helps with document collection, review, and testing by quickly extracting insights from large amounts of client documents. 

This allows auditors to search and query many documents in real-time, letting them focus on validating information instead of searching for it, which reduces manual work and improves accuracy.

Integrated into the DataSnipper ecosystem, UpLink creates a “seamless” workflow, enabling audit teams to manage the process efficiently as client documents are received.

Alex Maher, CEO of UpLink, says, “Generative AI is revolutionising the audit industry, enabling our clients to complete engagements twice as fast while achieving significantly higher-quality results and insights. Once teams experience the power of UpLink, there’s no turning back to the old ways of working.”

“Being part of DataSnipper’s ecosystem allows us to push the boundaries of AI-driven efficiency even further, delivering greater value to audit and finance professionals.”

DataSnipper launches new AI tool

Besides its acquisition of UpLink, DataSnipper is also launching DocuMine, an AI-powered tool that allows auditors to mine, analyse, and verify large volumes of documents in Microsoft Excel.

DocuMine automates the validation of critical data, enabling auditors to focus on higher-value tasks, such as strategic decision-making. By automating data verification, the tool shifts the workload from manually searching for information to quickly and accurately analysing audit evidence.

DataSnipper: Accelerating productivity for audit and finance

Founded in 2017, DataSnipper aims to transform data management in the audit and finance industry. The company offers an intelligent automation platform that enhances the quality and efficiency of audit processes. 

With over 500,000 users in more than 125 countries, the Dutch unicorn serves all four major global auditing firms: Deloitte, Ernst & Young (EY), KPMG, and PricewaterhouseCoopers.

DataSnipper CEO, Vidya Peters says, “Half the world is creating more data than ever before, half the world needs to verify it – that’s the premise of the entire economy. ‘DataSnipper lies at the intersection.”

“Using DataSnipper’s tool, auditors can automate away up to 90 per cent of menial tasks and boost business growth by cutting costs in half.”