SaaS procurement platform Sastrify has raised $7 million in a seed round led by HV Capital to help companies optimize their SaaS tools. The founders of FlixMobility, Personio and SumUp have also participated in the round. This new funding will be mainly used to promote sales and marketing as well as further push for product development that can lead to an accelerated expansion to Europe.
Founded in 2020 by Maximilian Messing and Sven Lackinger, Sastrify is offering a virtual Software-as-a-Service procurement service, helping finance and tech teams to optimize management and cost of SaaS tools in successful digital-first companies. By automating repetitive and annoying processes and using a dedicated procurement team that benefits from a large database of SaaS benchmarks, Sastrify is able to get their clients the best prices on the market.
One of the company’s co-founder, Sven Lackinger shared: “The more we talk to prospective customers, the more we realize just how widespread the need for SaaS procurement has become in the 21st century, We’ve experienced rapid growth because we can point to significant savings each and every one of our clients has realized through our services.”
Sastrify has already been working with unicorn startups like Gorillas and Sennder, having proved that they can deliver with their clients getting and average of 6.5x return on their investment in their SaaS procurement services. The team of already 30 strong has established relationships with SaaS providers giants like Google and Miro, another reason to inspire trust to their customers. Which is why the Sastrify claims to be the first choice of companies with more than 100 employees.
Jasper Masemann, a partner at HV Capital, explained: “Cloud software adoption is massively accelerating and almost every company nowadays uses SaaS products but does not buy and manage them efficiently. Sastrify’s astonishing growth underlines the broad customer value the team has already created. It is early days but Sastrify could create an SAP Ariba with a payment solution for SMB – a massive market just in Europe.”
Source: Sastrify “Sastrify Raises $7M from HV Capital And Unicorn Founders”