Vertice, a London, UK-based provider of a SaaS and cloud spend management platform, raised $25M in Series B funding.
The round, which brought the total amount to $51M, was led by 83North and Bessemer Venture Partners.
The company intends to use the funds to further accelerate its pace of product innovation and its worldwide expansion.
Founded by brothers Roy and Eldar Tuvey, Vertice is an integrated SaaS and cloud spend management platform which, built for finance and procurement leaders, gives businesses control and visibility of their SaaS and cloud spend. Today, the company manages over $1.1 billion in contract spend for hundreds of customers in over 30 countries.
To support its growth plans and growing customer base, Vertice will create over 150 new positions in 2024 across the US, EMEA and APAC, and will also be investing in its platform to solve more of its customers’ needs, including expanding functionality to help customers better optimize their clouds and radically streamline their technology stack.
The company is headquartered in London with offices in New York, Sydney and Brno.
Commenting on the news, Roy Tuvey said: “This next chapter will be about scaling into a business with a break-out trajectory and I have total conviction we will do so. Our name comes from being in our customers’ corner and we are resolute in helping them operate more efficiently through the headwinds in the global economy.”
FinSMEs
17/01/2024