Funding

Viio funding news – Copenhagen-based Viio Secures over €3.3 Million in Funding

Jun 27, 2024 | By Startup Rise EU

Spend Management Platform Viio has secures over €3.3 million in funding. Viio compares data about software providers, providers' licence models, and how much employees actually use the various solutions.

Spend Management Platform Viio has secures over €3.3 million in funding. It compares data about software providers, providers' licence models, and how much employees actually use the various solutions.

SUMMARY

  • Spend Management Platform Viio has secures over €3.3 million in funding.
  • Michael Fornander, Karsten Bek Hurup, Morten Christoffersen, and Oliver Quittek founded Viio.

It assists in monitoring payments and the expiration or reduction dates of subscriptions. Additionally, it provides consulting services to choose which licences to cancel and to bargain for lower costs.

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Michael Fornander, CEO and founder of Viio, said: “During COVID-19 and the period of zero interest rates and "free" capital, ZIRP SaaS consumption ran wild in many companies. Everyone needed Zoom and/or Teams for remote work and online meetings. Now, the economy is tighter, and many are rigorously cutting unnecessary expenses. Viio meets a significant, unsolved need. AI and automation can help with 90 per cent, but getting the job done and creating real value only comes when people take action and decide which licences and vendors to keep and which to cancel."

Ulrik Bo Larsen, the former CEO of Brandwatch, Ole Andersen, the former Nordic Director of Apple, Christian Kromann, CEO of SimCorp, Klaus Holse, Chairman of the Board at Danish Industry, and Susanne Bechmann Holse were among the investors lead by North Ventures.

Mikkel Rørvig, partner at North Ventures, said: "The digital transformation has meant that employees buy a software subscription with the company credit card today. Previously, the IT department handled all software, so the overview of software licences has been lost in recent years. Viio is firmly positioned for all companies below the significant enterprise level, as Viio's growth and excellent customer feedback also show.”

About Viio

Michael Fornander, Karsten Bek Hurup, Morten Christoffersen, and Oliver Quittek founded Viio. At Viio, their goal is to completely transform the way companies budget for, oversee, and utilise their software expenditures.

With features like usage tracking, vendor and app discovery, smart optimisation insights, and expert negotiation services, their product gives businesses a 360-degree view of all the SaaS and cloud vendors they work with. It also offers intelligent recommendations for optimising licences and contracts, allowing them to save up to 30% on yearly expenditure.

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