Xensam, a Stockholm, Sweden-based technology provider of AI-powered software assessment management, raised $40 million in growth funding.
The investment was from Expedition Growth Capital.
Founded in 2020, Expedition Growth Capital is a software specialist growth equity firm. Expedition focuses on €10m - €30m minority equity investments. The firm seeks to invest in SaaS companies across Europe and Israel.
Xensam Use of Funds
The company will use the funding to invest in AI product development, enhancing the platform's features and capabilities. Xensam also plans to expand its operations in the US and Europe, capitalizing on the growing demand for SAM tools in the expanding SaaS market.
Founded in 2016 by brothers Oskar Fösker and Gustav Föske, Xensam is a technology provider in software asset management, providing an AI-powered SaaS platform that helps enterprises optimize software usage, security, and costs. The company's platform provides intuitive software management solutions, allowing IT executives and stakeholders to understand user interactions with applications across digital infrastructures. It provides a comprehensive organizational overview across hybrid environments, generating easy-to-understand insights without requiring technical expertise or manual configuration. The company is headquartered in Stockholm, Sweden, with a local presence in the UK, the US, and across Europe.
Company: Xensam AB
Round: Growth Round
Funding Month: February 2024
Lead Investors: Expedition Growth Capital
Company Website: https://www.xensam.com/
Software Category: AI Software Asset Management