Sastrify, a Cologne, Germany-based next-generation platform for buying and managing SaaS subscriptions, successfully raised $32 million in a Series B financing round.
The round was led by Endeit Capital, with participation from Simon Capital and previous investors HV Capital, FirstMark Capital, and TriplePoint Capital.
The funds will be utilized to scale the company's global team focused on the United States and Europe, as well as accelerate product development to cater to mid-market and enterprise customers.
The Sastrify platform allows users the ability to centralize, visualize, and automate their entire SaaS procurement journey and provides a comprehensive solution for companies to streamline their SaaS procurement processes and optimize their SaaS stacks.
Sastrify powering SaaS procurement for fast-growing companies like sennder, OnRunning, Babbel, and Pleo and is now expanding its services in the United States, serving customers such as Capchase, a non-dilutive financing provider to SaaS companies.
"We've built a platform that enables procurement, finance, and IT teams to fully optimize all aspects of their software procurement," said Sastrify CEO and co-founder Sven Lackinger. "Our hundreds of customers around the world have validated our platform as the comprehensive SaaS procurement solution. We're positioned to grow our team, and continue to work with companies to focus and accelerate their efforts to reduce their risk, save hours per week, and save up to seven figures on their SaaS costs."
Company: Sastrify, Inc.
Round: Series B
Funding Month: May 2023
Lead Investors: Endeit Capital
Additional Investors: Simon Capital, HV Capital, FirstMark Capital, and TriplePoint Capital
Company Website: https://www.sastrify.com/
Software Category: SaaS Management Software
About the Company: Founded in 2020 by Maximilian Messing and Sven Lackinger, Sastrify is a digital procurement platform for Software-as-a-Service (SaaS) products. Sastrify helps companies get the best deals when buying and renewing SaaS subscriptions. The Sastrify platform enables procurement, tech, and finance teams to work together seamlessly, benefitting from best-in-class buying processes, partnerships with leading SaaS vendors, and an ever-growing database of price benchmarks.