Sparx provides a free suite of automated, AI-driven tools that detect hidden overspend across SaaS, cloud and insurance and then automate cost-saving measures. The company positions itself as a “Truebill for businesses,” aiming to cover more than just SaaS expenses. Founders Ricky Pati and Niko Fotopoulos launched a beta six months ago and say customers save on average 54%. During its beta Sparx reached profitability in August and is approaching seven-figure annual recurring revenue. It reports more than 100 business customers, including BMW, Invisalign, Zillow and Bill.com. Sparx serves a range of customers from small businesses to enterprises and plans to develop custom workflows to scale across those segments. The company intends to use new funding to scale operations, marketing and sales.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2023