Sastrify raises millions

The Cologne-based start-up has closed its Series A financing round. A New York venture capitalist invested.

Cologne-based start-up Sastrify has raised around 15 million US dollars in its Series A financing round. The round was led by US investor Firstmark. The startup plans to use the capital to expand into the U.S., Asia and Europe. This is the second financing round within six months. Previously, Sastrify had already raised seven million US dollars in its seed round.

The Cologne-based startup specializes in keeping track of software licenses held by companies and, if necessary, offering cheaper alternatives. It has won startups such as Gorillas as customers in this way. The company was founded by Sven Lackinger and Maximilian Messing, who had previously launched the parking garage start-up Evopark. They founded Sastrify in 2020. According to their own information, they now have several hundred customers.

The start-up earns money through a commission. This amounts to 2.4 percent of the total expenditure for software at a customer. For this price, Sastrify promises to save more money on software licenses than it costs. To do this, the start-up compares the prices a company pays today with a data pool and then tries to negotiate discounts with the providers.