Sastrify raises millions

The Cologne-based start-up has completed its Series A financing round. The investment was made by a New York venture capitalist.

The 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 start-up intends to use the capital to expand into the USA, Asia and Europe. This is the second financing round within six months. Sastrify had previously raised seven million US dollars in its seed round.

The Cologne-based start-up specializes in monitoring companies' software licenses and, if necessary, offering cheaper alternatives. It has won start-ups such as Gorillas as customers. 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 statements, they now have several hundred customers.

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