[Funding alert] London-based Vertice Secures €23 Million in Series B Round Funding

My brother and I set out to help companies address the pressing issue of rapidly increasing SaaS and cloud spending when they established Vertice. Though they had a clear product vision, money, and enthusiasm, they had no evidence that Vertice would be successful.

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The lead investors in Vertice's Series A, 83North and Bessemer Venture Partners, have returned with $25 million in fresh capital after a year of 7x ARR growth in 2023. They now have $40 million in total cash reserves accessible thanks to this most recent investment round.

They have grown to this point with exceptional capital efficiency. Because of this, they were able to choose a fundraising strategy that would both support their aspirational expansion objectives and uphold Vertice's commitment to frugal spending.

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Adam Fisher Partner at Bessemer Venture Partners said, “Vertice’s trajectory has been incredible, not just from a sales perspective but also in terms of its exceptional product development. Building genuinely innovative solutions that solve strategic pain points for enterprises is something that sets Vertice apart. We believe this is a recipe for sustained long-term and defensible success."

They will be expanding globally and quickening the speed of their product creation with the help of this fresh round of funding. Regarding the product, their main goal is to improve the Vertice platform in order to meet the needs of even more clients and support companies in operating more profitably.

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They have introduced their Cloud Cost Optimisation solution, released comprehensive usage insights and spending breakdowns, and implemented procurement workflows to manage, monitor, and audit software purchases since their previous raise.

They are now investing in giving finance leaders even more cost-effective options. This involves enhancing features to assist customers in drastically streamlining their technological stack and better optimising their cloud and SaaS expenses.

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About Vertice

Vertice is a tool for spend optimisation that helps businesses save up to 25% on cloud and SaaS expenses. It uses automation and machine learning to produce guaranteed cost reductions and gives businesses of all sizes and sectors greater insight and control over their software and cloud spending.

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