London-based Vertice offers an AI-powered SaaS spend and procurement platform that analyzes software and cloud usage to optimize purchasing. The company has built a "large software procurement model" that ingests contracts and usage data (it says it has ingested about $3.4 billion of SaaS and cloud spend and benchmarks over 16,000 vendors) to provide pricing insights, recommendations and purchase co-pilots. Customers number in the hundreds across Europe, the U.S. and Asia Pacific and include ASML, Euronext, Grant Thornton and Santander. Vertice says its product typically halves purchasing cycle times and delivers savings of 20–30%. Founded less than three years ago, the business has grown 13x since inception and has now raised around $100 million, including a new $50 million round. CEO Roy Tuvey says the company plans to expand its vision to standardize how companies buy anything, not just software and cloud. Founders Roy and Eldar Tuvey previously founded ScanSafe (sold to Cisco in 2009 for $200 million) and Wandera (acquired by Jamf in 2021 for $400 million). Vertice offers a platform combining automation, human evaluation and AI to give finance teams visibility into SaaS and cloud spend, centralized approvals, usage trends and security/compliance alignment. It currently tracks AWS cloud usage and alerts customers to inefficient or overlapping purchases, with plans to add Azure and GCP in the near future. The product is used by hundreds of customers and tracks more than $1 billion of customer spend through the platform. Vertice emphasizes both cost optimization and security posture, reflecting the founders’ background in IT security. Financially, the company reports annual recurring revenues in the double-digit millions and ARR grew seven-fold in 2023; the startup now has a valuation in the “hundreds of millions of dollars.” Vertice provides a platform designed to help businesses intelligently reduce annual SaaS spend by 20–30% and streamline the purchasing and renewal process. The company emerged from stealth to address rising SaaS costs and complex renewal schedules. Founded in 2021 by brothers Roy and Eldar Tuvey, Vertice targets enterprise pain points around managing and optimising SaaS portfolios. The platform is positioned against a market where global annual SaaS spend was projected to surpass $145 billion in 2022 (Gartner). Vertice plans to use its new funding to accelerate expansion of its engineering and commercial teams and drive revenue growth. Co-CEO Eldar Tuvey highlights the company’s focus on reducing friction and costs associated with managing SaaS renewals.

Total raised

$101M

Funding rounds

3

Latest round

Series C

Latest activity

Jan 2025