Sastrify, a Cologne, Germany-based provider of a platform for buying and managing SaaS subscriptions, raised $32M in Series B funding.
The round was led by Endeit Capital, with participation from Simon Capital and previous investors HV Capital, FirstMark Capital, and TriplePoint Capital.
The company intends to use the funds to scale the global team focused on the United States and Europe and further accelerate product development to support mid-market and enterprise customers.
Founded in 2020 by serial entrepreneurs Maximilian Messing and Sven Lackinger, Sastrify is a digital procurement platform for Software-as-a-Service (SaaS) products. Its platform enables procurement, tech, and finance teams to work together, benefitting from buying processes, partnerships with SaaS vendors, and a database of price benchmarks. The system allows users to centralize, visualize, and automate their entire SaaS procurement journey.
The fundraising coincides with the expansion of its core product offerings to provide automated Usage Analytics, as well as the launch of the Sastrify Marketplace, which includes flexible payment and financing options. Sastrify and Capchase also recently announced a partnership to provide flexible financing for SaaS licenses.
With the launch of Sastrify’s exclusive pre-negotiated commercial offerings via their Marketplace, teams can find and evaluate tools, streamline their procurement processes, optimize their SaaS stacks, and make insights-driven decisions. With Sastrify’s expanded Usage Analytics, companies benefit from having full transparency into their SaaS stack—visibility which in turn allows them to eliminate unnecessary or bad-fit tools and discover better alternatives.
Clients include OnRunning, Pleo, and Capchase, among others.
FinSMEs
24/05/2023