US $ 50m Series C fundraising helps spend optimisation platform Vertice solve procurement ’ s challenges with automation , benchmarking and intelligent workflows
VERTICE
US $ 50m Series C fundraising helps spend optimisation platform Vertice solve procurement ’ s challenges with automation , benchmarking and intelligent workflows
On a mission to simplify procurement , Vertice recently secured US $ 50m in Series C funding – which will accelerate its growth , allow it to open new regional offices , drive product development and launch new automated products .
It is all part of its mission to become the unified backbone for modern procurement teams .
Vertice was founded in 2021 by serial entrepreneurs Roy and Eldar Tuvey , who have two decades of experience running enterprise SaaS companies under their belts , most notably founding ScanSafe and Wandera , which exited for US $ 200m ( Cisco ) and US $ 400m ( Jamf ) respectively .
The funding marks a landmark moment for Vertice in what has been an incredible two-and-a-half year journey since going to market with its first product , a SaaS purchasing solution .
Not so unlucky 13 Vertice manages around US $ 3.5bn worth of spend worldwide for hundreds of customers , most of which are enterprises . The company has customers in about 30 different countries around the world , with the majority in the US and Western Europe , but many in APAC .
16 March 2025