Cologne\/New York \u2014 Sastrify announ\u00adced Series B funding round of $32 million led by Endeit Capi\u00adtal, with parti\u00adci\u00adpa\u00adtion from Simon Capi\u00adtal and exis\u00adting inves\u00adtors HV Capi\u00adtal, First\u00adMark Capi\u00adtal and Triple\u00adPoint Capital.<\/p>\n
The addi\u00adtio\u00adnal funding will go toward incre\u00adasing the size of the global team with a focus on the U.S. and Europe, as well as further acce\u00adle\u00adra\u00adting product deve\u00adlo\u00adp\u00adment to support mid-market and enter\u00adprise custo\u00admers. Sastrify has been a strong force in Europe since its mid-2020 launch, growing more than 400% last year.<\/p>\n
The proli\u00adfe\u00adra\u00adtion of SaaS conti\u00adnues to pose a signi\u00adfi\u00adcant risk to enter\u00adpri\u00adses world\u00adwide. Accor\u00adding to indus\u00adtry rese\u00adarch, more than $200 billion and 3.9 billion man-hours will be wasted on soft\u00adware purcha\u00adses in 2023, while one in five orga\u00adniza\u00adti\u00adons will expe\u00adri\u00adence a cyber inci\u00addent rela\u00adted to shadow IT.<\/p>\n
Accor\u00adding to Sastrify, the typi\u00adcal enter\u00adprise over\u00adspends more than 30 percent of its SaaS costs and wastes more than 400 hours per year mana\u00adging its SaaS contracts.<\/p>\n
Sastri\u00adf\u00ady\u2019s all-in-one plat\u00adform enables users to centra\u00adlize, visua\u00adlize and auto\u00admate their entire SaaS procu\u00adre\u00adment jour\u00adney: We are driving SaaS procu\u00adre\u00adment for fast-growing compa\u00adnies like senn\u00adder, OnRun\u00adning, Babbel, and Pleo, and are posi\u00adtio\u00adned to further expand our services in the U.S. as we alre\u00adady serve U.S. custo\u00admers like Capchase, a non-dilu\u00adtive funding provi\u00adder for SaaS companies.<\/p>\n
The Series\u2011B coin\u00adci\u00addes with the expan\u00adsion of our core product offe\u00adring to include auto\u00adma\u00adted usage analy\u00adtics, as well as the launch of the Sastrify Market\u00adplace, which includes flexi\u00adble payment and finan\u00adcing opti\u00adons. We also recently announ\u00adced a part\u00adner\u00adship with Capchase to offer flexi\u00adble finan\u00adcing opti\u00adons for SaaS licenses.<\/p>\n
YPOG provi\u00added<\/strong> legal coun\u00adsel to Simon Capi\u00adtal<\/strong> in the $32 million Series B finan\u00adcing round.<\/p>\n About Simon Capital About Endeit Capital<\/strong><\/p>\n Endeit Capi\u00adtal is a growth capi\u00adtal firm that has been driving inter\u00adna\u00adtio\u00adna\u00adliza\u00adtion and inno\u00adva\u00adtion since 2006. With local part\u00adner teams in the Nether\u00adlands, Germany and Sweden, Endeit specia\u00adli\u00adzes in support\u00ading Euro\u00adpean tech scale-ups that have grown out of the start-up phase. Endeit and its commu\u00adnity of entre\u00adpre\u00adneurs and experts support these compa\u00adnies with capi\u00adtal and manage\u00adment advice. Among them Parcel\u00adLab, 3DHubs, Navan, Conto\u00adrion, Gastro\u00adfix and Tour\u00adRa\u00addar. Endei\u00adt\u2019s part\u00adners have a broad opera\u00adtio\u00adnal expe\u00adri\u00adence in bran\u00adding and inter\u00adna\u00adtio\u00adna\u00adliza\u00adtion, espe\u00adci\u00adally through Buy & Build. www.endeit.com<\/p>\n About YPOG Cologne\/New York \u2014 Sastrify announ\u00adced Series B funding round of $32 million led by Endeit Capi\u00adtal, with parti\u00adci\u00adpa\u00adtion from Simon Capi\u00adtal and exis\u00adting inves\u00adtors HV Capi\u00adtal, First\u00adMark Capi\u00adtal and Triple\u00adPoint Capi\u00adtal. The addi\u00adtio\u00adnal funding will go toward incre\u00adasing the size of the global team with a focus on the U.S. and Europe, as well as [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":48728,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1366,1367,1368,1369,1373],"tags":[],"class_list":["post-48730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-news-en","category-lawyers-tax-advisors-auditors-en","category-lawyers-tax-consultants-auditors","category-investors","category-venture-capital-en"],"yoast_head":"\n
\n<\/strong>
\nSimon Capi\u00adtal is an early stage VC fund based in Germany. The fund invests in dedi\u00adca\u00adted foun\u00adders who are trans\u00adforming their indus\u00adtries in the areas of consump\u00adtion, well-being and produc\u00adti\u00advity. Simon Capi\u00adtal lever\u00ada\u00adges its broad network and exper\u00adtise rooted in entre\u00adpre\u00adneu\u00adrial tradi\u00adtion to foster new gene\u00adra\u00adti\u00adons of sustainable busi\u00adnesses. The fund takes an active port\u00adfo\u00adlio approach, where capi\u00adtal means more than just money; past invest\u00adments include the likes of water\u00addrop, Just Spices, MushLabs, Holy and Ordio. www.simoncapital.com<\/p>\n
\n<\/strong>
\nYPOG is a specia\u00adlist tax and commer\u00adcial law firm opera\u00adting in the core areas of Funds, Tax and Tran\u00adsac\u00adtions. The YPOG team advi\u00adses a wide variety of clients. These include emer\u00adging tech\u00adno\u00adlogy compa\u00adnies and family-run medium-sized enter\u00adpri\u00adses as well as corpo\u00adra\u00adti\u00adons and private equity\/venture capi\u00adtal funds. YPOG is one of the leading addres\u00adses for venture capi\u00adtal, private equity and fund struc\u00adtu\u00adring in Germany. The firm and its part\u00adners are natio\u00adnally and inter\u00adna\u00adtio\u00adnally ranked by JUVE, Best Lawy\u00aders, Legal 500, Focus, and Cham\u00adbers and Part\u00adners. Today, YPOG employs more than 100 expe\u00adri\u00aden\u00adced lawy\u00aders, tax advi\u00adsors, tax specia\u00adlists and a notary in three offices in Berlin, Hamburg and Colo\u00adgne. www.ypog.law<\/p>\n","protected":false},"excerpt":{"rendered":"