Sastrify, the platform for managing SaaS Subscriptions raises $32m

By Gloria Methri

Sastrify, the next-generation platform for buying and managing SaaS subscriptions, has raised a $32 million Series B financing round led by Endeit Capital. Other investors contributing to the funding include Simon Capital, HV Capital, FirstMark Capital, and TriplePoint Capital.

Sastrify will use the additional funds to scale the global team focused on the United States and Europe and further accelerate product development to support mid-market and enterprise customers.

The Sastrify platform allows users to centralize, visualize, and automate their entire SaaS procurement journey. The company powers SaaS procurement for fast-growing companies like sennder, OnRunning, Babbel, and Pleo and is likely to expand its services in the US, already serving customers such as Capchase.

The fundraising coincides with Sastrify’s expansion of its core product offerings to provide automated Usage Analytics as well as the launch of the Sastrify Marketplace, which includes flexible payment and financing options. Sastrify and Capchase also recently announced a partnership to provide flexible financing for SaaS licenses.

“We have built a platform that enables procurement, finance, and IT teams to fully optimize all aspects of their software procurement,” said Sastrify CEO and co-founder Sven Lackinger. “Our hundreds of customers around the world have validated our platform as the comprehensive SaaS procurement solution. We are positioned to grow our team, and continue to work with companies to focus and accelerate their efforts to reduce their risk, save hours per week, and save up to seven figures on their SaaS costs.”

“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,” said Philipp Schroeder, partner at Endeit Capital,” said Philipp Schroeder, partner at Endeit Capital.