Vertice: Unleashing Global Expansion with $25m in Series B Funding

TLDR:

Vertice, an integrated SaaS and cloud spend management platform, has raised $25 million in a Series B funding round. This brings the company’s total funds raised to $51 million since January 2022. The funding will be used to support Vertice’s global expansion and accelerate its product innovation pipeline. The company plans to create over 150 new positions worldwide as part of its growth strategy.

Notable highlights from the article:

• Vertice has raised $25 million in a Series B funding round, bringing its total funds raised to $51 million since January 2022.
• The funding will be used to support Vertice’s global expansion and accelerate its product innovation pipeline.
• The company plans to create over 150 new positions worldwide as part of its growth strategy.
• Vertice is an integrated SaaS and cloud spend management platform that addresses the intricacies of both SaaS and cloud spending.
• In 2023, Vertice achieved 7x growth in Annual Recurring Revenue (ARR) and unveiled a suite of product modules, including its Cloud Cost Optimization offering.
• Key investors from the company’s Series A, 83North and Bessemer Venture Partners, participated in the Series B funding round.
• Industry figures have expressed confidence in Vertice’s trajectory, with Laurel Bowden, partner at 83North, highlighting the company’s “powerful combination of a tenacious team, fast execution, and a huge market with strong structural tailwinds.”
• The funding round reflects Vertice’s strategic foresight and capital efficiency.

Overall, the funding round and support from investors demonstrate Vertice’s strong growth and market presence in the SaaS and cloud spend management space. The additional funding will allow the company to further enhance its platform and expand its global reach.