Vertice Secures $50 Million to Expand AI-Powered SaaS Expense Management Platform
London-based Vertice, a leading AI-driven SaaS expense management platform, has raised $50 million in Series C funding, marking a significant milestone in its rapid growth. The investment round was led by Lakestar, with participation from Perpetual Growth, CF Private Equity, Bessemer Venture Partners, and 83North, the latter of which co-led the company's Series B round last year. This latest round brings Vertice’s total funding to approximately $100 million, with an increased valuation compared to the "several hundred million" figure estimated in 2024.
Revolutionising SaaS Expenditure Management with AI
In a world where businesses are spending hundreds of billions annually on software and cloud services, optimising procurement and reducing waste has become a strategic priority. Vertice has positioned itself as a market leader by leveraging artificial intelligence and automation to provide enterprises with actionable insights, cost-saving opportunities, and streamlined procurement processes.
With its 13-fold growth in just three years, Vertice has proven its value to businesses seeking to navigate the complexities of the rapidly evolving SaaS procurement landscape. The company’s innovative approach integrates directly with a business’s financial and operational data, offering a holistic view of software expenditure and enabling smarter, data-driven decisions.
Global Expansion and Prestigious Clientele
Vertice's expansion has been swift, with hundreds of clients across Europe, North America, and the Asia-Pacific region. Notable names such as ASML, Euronext, Grant Thornton, and Santander have adopted the platform to optimise their software spending and gain better financial control.
The startup's growth trajectory reflects the broader market trend, with companies across sectors increasing their reliance on cloud services and SaaS solutions, leading to rising software costs. According to Gartner, spending on IT services—including cloud infrastructure and enterprise software—is expected to surpass $5 trillion by 2025, with a projected 9% year-on-year increase, driven primarily by AI and cloud transformation initiatives.
What Sets Vertice Apart?
Vertice stands out in the crowded SaaS expense management market by offering:
- AI-Powered Insights: The platform leverages AI algorithms to analyse spending patterns, vendor pricing, and contract terms, ensuring businesses achieve optimal value from their software investments.
- Automated Cost Savings: Unlike traditional expense management tools, Vertice actively identifies wasteful spending, duplicate subscriptions, and unused licences, helping companies reduce costs effectively.
- Vendor Negotiation Support: By benchmarking prices across industries and using AI-driven analytics, Vertice assists businesses in negotiating better contracts with SaaS vendors.
- Scalability and Integration: The platform easily integrates with enterprise ERP systems, cloud platforms, and procurement software, making it adaptable for businesses of all sizes.
Co-founders Roy and Eldar Tuvey, who previously founded and sold cybersecurity startups ScanSafe (acquired by Cisco for $200 million) and Wandera (acquired by Jamf for $400 million), have applied their expertise to create an intelligent procurement solution tailored for modern businesses.
Investor Confidence and Market Potential
Investor interest in Vertice highlights the growing demand for cost optimisation solutions, particularly in the face of uncertain economic conditions and tightening IT budgets.
The funds raised will be used to:
- Enhance AI capabilities, with a focus on developing predictive analytics and machine learning models.
- Expand Vertice’s global presence, with a particular focus on North America and Asia-Pacific markets.
- Develop new features, such as deeper integrations with enterprise software ecosystems and enhanced reporting tools.
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Competitive Landscape and Future Outlook
Vertice faces competition from established players like Spendbase, Spendesk, Gartner, and G2, each offering different approaches to expense management. However, Vertice’s AI-driven methodology, deep data integration, and proactive cost-saving tools set it apart in an increasingly competitive field.
As businesses continue to prioritise financial efficiency and cost control, the demand for platforms like Vertice is expected to rise. The company's ambitious growth plans and focus on AI innovation place it in an advantageous position to capture an even greater share of the market.
Vertice’s $50 million funding milestone marks a significant step forward in its mission to redefine SaaS expenditure management through cutting-edge AI solutions. As software spending continues to climb globally, Vertice’s platform provides businesses with the tools needed to optimise costs, enhance procurement processes, and achieve sustainable growth.
