Vertice funding news – London-based Vertice Secures €47.9 Million in Series C Round Funding

The funding round was led by Lakestar, a European VC firm, bringing the total raised to over €95.9 million. Other investors include Perpetual Growth, CF Private Equity, Bessemer Venture Partners, and 83North.

Roy Tuvey, Co-founder and CEO at Vertice said, “We created our own unfair advantage, After spending two years perfecting our SaaS and cloud spend optimization, achieving product-market fit and taking market share from established players, we’ve brought all of our data and insights directly into the workflow experience. All employees can now initiate any purchase, quickly, transparently and at the best price, while procurement can fully customize the workflows to their needs and embed granular approvals.”

This oversubscribed funding round marks a major milestone in Vertice's growth. The company has increased its revenue by 13 times in the past two years and is expanding its global customer base while aiming to stay efficient with its capital.

Funding Utilisation

The Series C investment will help Vertice build a unified platform for modern procurement teams. In 2025, the company plans to open new offices and grow its engineering team threefold. New features and integrations will help procurement and finance teams get better visibility, improve processes, cut costs, and make smarter decisions.

It says procurement teams face daily challenges with unclear approval processes, rising prices, compliance risks, and difficulty finding the best prices. Currently, there are many separate solutions for procurement tasks, like contract negotiations, workflow management, and spend optimization, but Vertice aims to bring all of these into one platform.

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It provides customizable procurement workflows that use AI to give insights into how to optimize spending, manage usage, and reduce risks. These insights come from Vertice’s experience negotiating over €3.2 billion in SaaS and cloud spend for hundreds of global companies, as well as data on over 16,000 software vendors.

The platform has helped businesses cut purchasing cycles in half, reduce unnecessary spending, and lower SaaS and cloud costs by up to 30%.

Companies like ASML, Euronext, Grant Thornton, and Santander have adopted Vertice’s platform. In the past year, Vertice has expanded its customer base in the US, Europe, the Middle East, Africa, and Asia-Pacific, making it the only spend optimization platform with a strong presence in all three regions.

Stephen Day, CPO at Kantar and a member of Vertice’s Advisory Board, commented, “The curse and the blessing of procurement is that it is the only business process that any employee could perform – with or without authorization. Control and visibility of every purchase therefore becomes essential, but it can be painfully difficult when data and intelligence is disparate. Unifying these data sources and processes into a single platform that is built with the stakeholder experience in mind, as much as for procurement leaders, solves so many challenges – and is a huge opportunity for Vertice.”

Georgia Watson, Partner at Lakestar, said “Vertice has consistently demonstrated its ability to execute, innovate, and drive key growth metrics year after year, all at scale. We firmly believe there is no organization better positioned to become the unified platform of choice for the modern procurement team.”

About Vertice

Vertice was founded in 2021 by Eldar Tuvey and Roy Tuvey. It is a platform that helps companies save up to 25% on their SaaS and cloud costs. Vertice gives businesses of all sizes better control and visibility over their software and cloud spending, using automation and machine learning to ensure cost savings.