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Sastrify Raises $ 7 Million to Help SMBs Manage SaaS Purchases – TechCrunch

With so many startup activities in the Software as a Service (SaaS) space, it can be difficult for businesses to determine which of these SaaS (SaaS?) Are actually useful and worth continuing to shell out. good Startup based in Cologne Sastrify is here to help – offering what he describes as a “highly automated” platform (spanning over 20,000 SaaS solutions) to help other businesses purchase and manage third-party services.

It may not sound sexist, but although it only launched earlier this year, Sastrify already has positive cash flow – and can boast “high 6-figure recurring income” just months after launch. . Not bad for a startup that was only founded last summer.

Today he announces the closure of a $ 7 million seed of HV Capital and the founders of FlixMobility, Personio and SumUp. This follows a $ 1.3 million pre-seed raised in late 2020, ahead of its launch.

Sastrify tells us he has around 50 clients at this point, including “unicorn startups like Gorillas”. He says his approach works best for growing companies with more than 100 employees and is perhaps particularly suited to European technological surges.

On a competitive level, the startup points to the United States Seller and Tropic, which may further explain the regional focus (although it does not only sell in Europe).

Sastrify’s sales pitch to SMEs indicates that current customers have seen an average return on investment of 6.5 times, on top of what he bills as “thousands of hours of work” saved through “activities”. wasted ”related to SaaS provisioning.

Cost savings are another carrot – with the startup claiming its customers “typically” save around 20-30% of their SaaS costs.

So how does this actually make it easier for businesses to navigate the pros and cons of the assortment of SaaS currently available?

“Our main mantra is, ‘Efficient sourcing asks the right questions at the right time,'” says co-founder Sven Lackinger, who once co-founded a SaaS startup (evopark) himself, leaving the company in 2018.

“To ensure that we have defined and implemented a 5-step process in our platform, covering the entire lifecycle of SaaS applications within enterprises. Our customers can research the right SaaS solutions as we walk them through the right assessment process by use case and tool (eg, what do similar businesses use?).

“We then take charge of the entire purchasing process, that is to say by automatically contacting different suppliers, comparing and analyzing the offers by IA / OCR. Once the tool is implemented, we make sure to frequently track usage (via regular, automated surveys with tool owners) and re-evaluate over time so there is no waste. continuous licensing.

“We have a more automated platform [than Vendr and Tropic] and can also resell licenses directly to our customers (eg for Google, Microsoft and others) to ensure the best prices and fast delivery, ”he also tells us. “This allows us to offer a faster and cheaper solution that is more suited to the European market (where the average SaaS spend per company is even lower than in the United States).”

If you’re outsourcing all of these other things to SaaS providers, why not get a specialist service to stay on top of how you’re doing it as well, that’s the basic idea.

Sastrify’s 30-person team will use the seed funding to accelerate sales, marketing and product development so they can expand their SaaS management service to more businesses in Europe and beyond.

Commenting on the funding in a statement, Jasper Masemann, partner at HV Capital, added: “The adoption of cloud software is accelerating massively and almost all businesses today are using SaaS products but not buying them and managing them effectively. Sastrify’s amazing growth underscores the broad customer value that the team has already created. This is just the start, but Sastrify could create an SAP Arriba with a payment solution for SMEs – a huge market just in Europe.

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