Vertice - the SaaS purchasing platform
by Startacus Admin
The lowdown on Vertice, the platform enabling businesses to streamline their software purchases and renewals and lower their SaaS costs.
In 2022, the global annual spend on software-as-a-service is projected to be over $145 billion. Part of this obviously reflects the fact that more and more of what we need is becoming available in handy SaaS form, but that’s still a lot of money, and a figure that businesses would like to bring down. Well, except perhaps the SaaS businesses.
London-based tech startup Vertice has positioned itself in a good place to help lower the amount that businesses spend on SaaS, as well as simplifying the process for them. They say that they can reduce annual software spend by 20-30% by giving you more control and flexibility in a world where software prices are rapidly rising, yet that software is more and more prevalent.
Whether your business is in finance, software, customer support, or anything else that requires you to use SaaS applications, Vertice can remove the pain points and free up more of your budget. All you need to do is tell them your objectives, let them analyse your existing SaaS stack, and then…wait while they improve things. The platform seamlessly integrates with major ERP finance and contract management systems, and uses data intelligence and market analytics from thousands of SaaS transactions to identify where you could be saving money, as well as streamlining the procurement cycle to get approvals through quicker.
In May, Vertice announced that it had raised a huge $26 million in a Series A round led by 83North and Bessemer Venture Partners, with participation from multiple angel investors. The startup already boasts a team that has a combined experience of negotiating over $300 million in SaaS purchases across more than 10,000 contracts, and this funding will go towards further expanding their engineering and commercial teams, as well as driving growth.
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Published on: 8th June 2022
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