Vertice Secures $50M Funding

This is a London news story, published by TechCrunch, that relates primarily to Vertice news.

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previous backers Bessemer Venture Partners

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Vertice raises $50M for its AI-powered SaaS spend platform | TechCrunch

Summary

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83% Informative

London -based startup Vertice has raised $50 million in new funding to expand its vision.

The startup uses AI and other tools to build a picture of what a company does, how much it spends typically, and what it might need or want to buy next.

Vertice claims it has ingested data on some $3.4 billion worth of SaaS and cloud expenditure, as well as benchmarking data on more than 16,000 software vendors.

At the moment, expenditure is top of mind for companies looking to bring down operational costs — especially at startups given the constrictions they are facing around funding at the moment. “Some of our portfolio companies are using Vertice ,” Watson said, citing the pressure to bring down software expenditure. “That’s been a conversation we’ve been having and feedback was overwhelmingly positive,” she noted, adding that Lakestar had been trying to invest previously, and finally pulled it off this time around..

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informal

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English

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