🇳🇴 AI startup Watchdog raises $600,000 to detect invoice errors

Norwegian AI startup Watchdog has developed a tool that automatically checks incoming invoices against contractual terms. The company is backed by experienced Norwegian founders.

Watchdog was founded in 2025 by former BCG consultants Benjamin Bjorvatn Øien and Halvor Reiten.

“The idea for Watchdog emerged from our own experience as consultants, combined with conversations with more than 100 CFOs, controllers and procurement professionals,” says Øien, CEO and co-founder of Watchdog.

Øien says that incorrect invoicing is a widespread and costly problem for businesses, and that the effort required to maintain proper control has become excessive. “The problem is that incoming invoices do not always match agreed pricing and volumes. Few organizations have the capacity to manually review every single invoice. The errors are rarely intentional, but they result in unnecessary and in some cases significant financial losses for invoice recipients,” he says.

Uses AI to identify invoicing errors

Watchdog has developed an AI-based monitoring tool that integrates with companies’ IT and accounting systems. The tool reviews incoming invoices against contractual terms and historical pricing. The system can be implemented in as little as one minute and no more than one hour.

“The solution does not require any changes to a company’s existing IT infrastructure. The AI simply retrieves invoices from the current system, whether it is Microsoft Dynamics, Tripletex, Visma or another platform. It is a plug and play solution,” says Halvor Reiten, CTO and co-founder of Watchdog.

Watchdog has already been tested by 15 pilot clients, including the bakery chain Baker Brun, the aquaculture company ScaleAQ and the jewellery retailer David Andersen.

“For our pilot clients, we have already identified more than USD 400,000 in incorrect invoicing. The amounts involved are often substantial. In the most severe cases we found individual discrepancies in tens of thousands USD,” says Øien.

Raises capital from experienced founders

The company recently raised USD 600,000 to fund further product development and growth. The round was backed by venture studio Askeladden & Co, former Celsia CEO and current Sanna CEO Petter Reistad, as well as several private investors currently working at OpenAI, Encube, and Riff.

“We’re pleased to have brilliant investors supporting the next phase of our venture. With the product now validated, we’re focused on growth. The product is highly scalable, and we plan to expand internationally in 2026” says Øien.

For more information:
Benjamin Bjorvatn Øien
CEO
(+47) 901 31 623
[email protected]

Originally published on 2 February 2026 by Watchdog.