Archlet, a Zurich, Switzerland-based B2B SaaS application platform that empowers company buyers to make informed decisions in strategic sourcing, secured $10 million(approx. €8.62M) in Series A round.
The round was led by HV Capital, existing investors Wingman Ventures, Senovo, and La Famiglia also participated in this round. Business Angel Matthias Hilpert completed the round and will continue to support Archlet on its journey.
The fundraise comes early for Archlet, as it raised its $2.8M Seed round in January 2021. The additional capital will allow Archlet to further boost product development and expand into new markets.
Company: Archlet AG
Round: Series A
Funding Month: September 2021
Lead Investors: HV Capital
Additional Investors: Wingman Ventures, Senovo, La Famiglia, and Matthias Hilpert
Company Website: https://www.archlet.io/
Software Category: B2B SaaS application platform
About the Company: Archlet was founded in 2019 by Lukas Wawrla, Jakob Manz, and Tim Grunow. Archlet is a B2B SaaS application empowering company buyers to make faster and more informed decisions in strategic sourcing. Archlet scans through supplier offers and creates transparency across relevant sources to enable data-based supplier negotiations and decision-making. The company offers its cloud-based advanced sourcing solution to SMEs and large enterprises across different industries. Over the past 18 months, the Archlet team has grown from the 3 founders to more than 30 people who are serving customers around the world. The company claims that the Archlet sourcing platform has helped businesses across Europe and the US to optimize more than $20B in spending. Its customers report an additional financial savings of up to 15 percent compared to previous purchasing activities, with an up to 10 fold decrease in manual activities.