SaaS tool procurement platform Sastrify raises $32 million

The company aims to use the new capital to scale the global team focused on the United States and Europe and further accelerate product development to support mid-market and enterprise customers.
SaaS tool procurement platform Sastrify raises $32 million

Cologne’s Sastrify has raised $32 million in a Series B funding round. The platform helps finance and teams company-wide in optimising the management and cost of the SaaS tools they use on a daily basis. The new funds are slated to be used to help grow the company scale and grow its team numbers, with a particular focus on the US and European markets. Since late December of 2020, the company has raised a total of $55.2 million.

Satisfy’s $32 million Series B round was led by Endeit Capital, with participation from Simon Capital and previous investors HV Capital, FirstMark Capital, and TriplePoint Capital.

While providing teams with the best tools to do the best job isn’t even really a question for businesses in the business of succeeding, keeping an eye on these costs is. Co-founder and CTO Maximilian Messing knows this catch-22 all too well, and together with co-founder Sven Lackinger, created Sastrify to help procurement teams cut down on the unnecessary hours of managing software contracts.

The goal of Sastrify is simple: build a single platform for companies that handles the entire lifecycle of enterprise SaaS. Simple enough in premise, not so simple in execution.

Through a series of cooperative agreements, with well over 50 SaaS providers including Google, Miro, and 1Password, Sastrify offers clients a one-stop-shop where they can browse for new software and then follow a structured procurement process to get what they need in a flash, all at a best-in-market price. Likewise, the platform also flags underperforming contracts and offers optimised solutions as well as handling any renewals.

“We’ve built a platform that enables procurement, finance, and IT teams to fully optimise all aspects of their software procurement,” says 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’re 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.”

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