Xensam, a Stockholm, Sweden-based technology provider of AI-powered software assessment management solutions, raised $40M in Growth funding.
Expedition Growth Capital made the investment.
The company intends to use the funds to invest in AI product development and expand operations in the US and Europe.
Founded in 2016 by brothers Oskar Fösker, CEO, and Gustav Fösker, CTO, Xensam is a technology provider that specializes in software asset management, offering an AI-powered SaaS platform that helps enterprises worldwide optimize software usage, security and costs. Its Security Centre provides an overview of potential compliance issues and security vulnerabilities, including pirated software detection and missing anti-virus tools, which helps reduce the risk of security breaches. The solution can integrate with any software.
The company serves more than 200 customers, including Volvo-owned electric car leader Polestar, battery manufacturer Northvolt and F500 supply chain giant Jabil.
Commenting on the news, Oskar Fösker said: “We founded Xensam to provide an intuitive platform for software asset management and resource optimisation by leveraging AI and automation. Since then, we have grown over 126% year-on-year and demonstrated how innovative, scalable and user-centric technology can deliver exceptional value to customers. We’re thrilled to partner with Expedition Growth Capital to help fuel the next phase of our expansion.”
FinSMEs
09/02/2024