Vertice raises 50 million US dollars

The British SaaS startup plans to use the fresh capital to expand its platform for simplified procurement and accelerate its global growth.

London, January 22, 2025 - UK-based SaaS startup Vertice has raised $50 million in a Series C funding round. The round was led by Lakestar, supported by Perpetual Growth and CF Private Equity. Existing investors Bessemer Venture Partners and 83North also participated again in the financing, which brings the company's total capital to over 100 million US dollars.

Increasing efficiency in procurement

Vertice was founded with the mission to empower modern procurement and finance teams with a unified platform for visibility, control and automation. The company's software-as-a-service solution provides real-time pricing data, benchmarks and detailed analytics to optimize decision-making processes and identify savings opportunities.

Vertice has shown that the digitalization of procurement not only reduces costs, but also creates transparency and enables companies to act faster and more agile. Their platform is a crucial building block for future-oriented companies.

Christoph Gras, General Partner at Lakestar

Founded just three years ago, Vertice has quickly established itself as one of the leading providers in the ProcureTech sector. The platform combines data intelligence with user-friendly tools to help companies around the world buy smarter and more efficiently. With a customer portfolio that now includes several Fortune 500 companies, Vertice has already achieved a managed procurement value of 3.4 billion US dollars. Companies report savings of up to 30%, halving procurement cycles and dramatically reducing uncontrolled spend.

Expanding technology and teams

With the new funding, Vertice plans to accelerate its growth:

• New regional offices will be opened to expand customer service globally.
• The development team will triple in size to incorporate new features such as document extraction, comprehensive automation and workflow analytics.
• The platform will be equipped with additional integrations and templates to provide an even more seamless user experience.

Focus on growth and innovation

"We are thrilled to have the support of our investors and our community," said a spokesperson for the company. "This funding will allow us to further simplify the global procurement process and help companies scale. Our goal remains to take decision making to the next level through data and automation."