Vertice Raises $25M in Series B Funding for Cloud Spend Management Platform
Vertice, a London, UK-based provider of a SaaS and cloud spend management platform, recently announced that it has raised $25M in Series B funding. This funding round, led by 83North and Bessemer Venture Partners, brings the company's total funding amount to $51M. The funds will be used to accelerate product innovation and expand the company's presence worldwide.
Founded by brothers Roy and Eldar Tuvey, Vertice offers an integrated SaaS and cloud spend management platform designed for finance and procurement leaders.
The platform provides businesses with control and visibility of their SaaS and cloud spend, managing over $1.1 billion in contract spend for customers across 30 countries. To support its growth plans and expanding customer base, Vertice plans to create 150 new positions by 2024 across the US, EMEA, and APAC regions.
With headquarters in London and offices in New York, Sydney, and Brno, Vertice is committed to helping its customers operate more efficiently in the face of global economic headwinds. Roy Tuvey, co-founder of Vertice, stated, "This next chapter will be about scaling into a business with a break-out trajectory and I have total conviction we will do so."
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