The team at Sastrify are pleased to announce our $32M Series B financing round, “led by Endeit Capital and joined by Simon Capital and previous investors HV Capital, FirstMark and TriplePoint Capital.”
This additional funding supports their mission “to build the next-generation platform for buying and managing SaaS subscriptions as they scale the global team focused on the United States and Europe and further accelerate product development to support mid-market and enterprise customers.”
They have “grown more than 400% in the past year fueled by a focus on clear return on investment for their customers.”
The teams thanks their customers, partners, and investors for their continued support and our incredible Sastronauts for bringing their mission to life—and having fun while they’re at it.
The future of SaaS procurement is here, the company claims.
As noted by its management, Sastrify is “a digital procurement platform for Software-as-a-Service (SaaS) products.”
Founded in 2020 by serial entrepreneurs Maximilian Messing and Sven Lackinger, Sastrify helps companies get the best deals when buying and renewing SaaS subscriptions.
The Sastrify platform “enables procurement, tech, and finance teams to work together seamlessly, benefitting from best-in-class buying processes, partnerships with leading SaaS vendors, and an ever-growing database of price benchmarks.”
Backed by Endeit, FirstMark, HV Capital, Simon Capital, and TriplePoint Capital, Sastrify says that it “supports hundreds of clients globally, including OnRunning, Pleo, and Capchase.”
Philipp Schroeder, partner at Endeit Capital,” said Philipp Schroeder, partner at Endeit Capital, said:
“As a result of the rise of SaaS Solutions, accelerated Digital Transformation due to Covid and the current global economic climate, scalable SaaS management has become table stakes for running a successful company. We believe Sastrify’s platform is very well positioned to capitalize on this trend.”
Adam Nelson, Managing Director, FirstMark, said:
“FirstMark invests in companies like Airbnb, Pinterest, and Shopify that can transform massive markets with technology. Sastrify’s accelerated growth and compelling product/market fit with global customers has cemented our belief in the company’s position to be the #1 global SaaS procurement solution.”
Jan Leicht, partner at Simon Capital, said:
“Most grown-up and mature companies are just at the beginning of their SaaS adoption curve. At the same time, they are facing an increasingly complex SaaS landscape that won’t make their procurement lives any easier. We believe that Sastrify’s platform can effectively empower these enterprises to cope with this new complexity.“