Sastrify Nabs $32M in Series B Funding
Sastrify, a next generation platform for buying and managing SaaS subscriptions, has secured $32 million in a Series B funding round led by Endeit Capital. The round also saw participation from Simon Capital and existing investors HV Capital, FirstMark Capital, and TriplePoint Capital.
The Cologne-based startup was founded to streamline company operations by managing SaaS solutions with ease. The founders had previous experience in building a startup and know firsthand how tedious creating the right SaaS stack setup can be. The platform aims to transform the way companies discover, buy, and manage their software and cloud subscriptions.
Sastrify’s research shows that the average firm overspends on SaaS by more than 30 per cent and wastes over 400 hours per year maintaining SaaS contracts. The Sastrify platform centralises this process, helping companies to get the best deals when buying and renewing subscriptions. It also allows users to visualise and automate every step of the procurement process.
The new funding will be used to speed up product development and increase its worldwide team. This funding comes at a time when Sastrify is introducing its marketplace, which offers flexible payment and financing alternatives, and expanding its main product offerings to include automated Usage Analytics.
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