Vertice, a London, UK-based SaaS and cloud spend management platform, has secured $25 million in Series B funding. The company has raised a total of $51 million since January 2022, and the latest round increases its total available cash reserves to $40 million.
The round was led by 83North and Bessemer Venture Partners.
83North is a global venture capital firm based in London, United Kingdom, with more than $2B under management that invests in European and Israeli entrepreneurs creating global businesses. Founded in 2006, the firm seeks to invest in information technology, business products, business services, consumer products, and consumer services sectors.
Founded in 1911, Bessemer Venture Partners is a venture capital firm based in Redwood City, California. The firm seeks to invest in the software, cloud tech, cryptocurrency, web tech, consumer, enterprise, and healthcare sectors. The firm has additional offices based in San Francisco, Boston, New York, Larchmont, Bangalore, Tel Aviv, and London.
Vertice Use of Funds
The company will use the latest funding to fuel product innovation and accelerate global expansion. To support its ambitious growth plans and growing customer base, Vertice will create over 150 new positions globally and will be further investing in its platform.
Founded in 2021 by Roy and Eldar Tuvey, Vertice provides a platform for
SaaS and cloud spend optimization. The company's platform empowers companies of every size and industry to get more visibility and control of their software and cloud spending and leverages automation to deliver guaranteed cost savings, enabling companies to view, control, and save on both Software as a service (SaaS) and cloud costs with an integrated unified offering.
Company: Vertice Technology, Inc.
Round: Series B
Funding Month: January 2024
Lead Investors: 83North and Bessemer Venture Partners
Company Website: https://www.vertice.one/
Software Category: SaaS and Cloud Spend Optimization