Main Highlights
- Sastrify announced that HV Capital and FlixMobility founders, Personio and SumUp have closed a seed round of $7 million.
- It is a virtual procurement software that improves SaaS management operations and SaaS expenditures for digital enterprises.
- Their customers may search for the appropriate SaaS solutions by guiding them through the appropriate assessment process per user case and tool.
- They have a more automated vendor and tropic platform and they can resell licenses directly to their clients for the lowest pricing and rapid delivery.
Sastrify may not sound like a typical start-up company, but Sastrify already has a positive cash flow despite its initial introduction earlier in this year – and it has a high six-digit recurring income just a few months after it was launched. Not bad for a business that started only last summer. It announced today that HV Capital and FlixMobility founders, Personio and SumUp have closed a seed round of $7 million. This has resulted in a $1.3 million pre-seed raised before its launch in late 2020.
In order to be able to identify which of these SaaS are truly helpful and worthy to shell off for companies, it might be a struggle with so many startups in the SaaS area. Well, start-up Sastrify in Cologne is there to assist – to provide what he described as a “highly automated” platform to help other organizations purchase and manage third-party services – which include over 20,000 SaaS products.
Sastrify informs that at this time there are around 50 clients – including “unicorn businesses like Gorillas.” It states that its method is best suited for developing firms with 100 or more workers and may be ideal for European technology giants. The start-up points at the US vendor and Tropic on the competition front, which might explain more about the area (although it is not just selling in Europe).
In addition to what it calls “thousands of working hours,” which are saved from “disposable” tasks linked to SaaS procurement, Sastripys sales pitches to SMEs indicate that existing clients enjoy an average 6,5x return. Cost savings are another incentive, which its clients claim to save approximately 20-30 percent of the cost of SaaS. So how can it make navigating the advantages and disadvantages of the SaaS(es) border simpler for enterprises now?
Sastrify (Eastern 2020) is a virtual procurement software that improves SaaS management operations and SaaS expenditures for digital enterprises in the first place. They build the best software for our customers and save them time and money. Maximilian and Sven previously launched the company evopark for Software-as-a-service before founding Sastrify, which was eventually purchased by Scheidt & Bachmann, a well-established firm. They had learned firsthand how hard it is to find the proper software configuration at a technology business themselves.
SaaS Solutions by Sastrify
“Our key slogan is to ask the correct questions at the appropriate moment ‘Effective procurement,'” explains co-founder Sven Lagkinger who co-founded a SaaS business (evopark) in 2018. To guarantee that their five-step processes cover the full life cycle of SaaS applications in companies, checks have been designed and executed on their platform. Their customers may search for the appropriate SaaS solutions by guiding them through the appropriate assessment process per user case and tool.
“We’ve been taking over the entire purchasing process, namely automated comparison and benchmarking for bids with multiple suppliers using AI/OCR. Once the tool is installed, we ensure frequent user tracking (via regular automated tool owners questionnaires) and re-evaluation over time so that licenses are not continuously lost.”
They have a more automated vendor and tropic platform and they can resell licenses directly to their clients for the lowest pricing and rapid delivery, for example for Google, Microsoft, and others. When the SaaS cost per firm is still lower than in the United States, it allows them to provide a speedier and cheaper solution that is more adaptable on the European market.
When you outsource all these other things to SaaS suppliers, the main notion is why you don’t have a specialized service to keep up with how it is done. The 30-strong Sastrify team will use the seed financing to expand its SaaS management services to additional firms in Europe and abroad to speed sales, marketing, and product development.
Jasper Masemann’s Verdicts
Jasper Masemann, HV Capital Partner, comments on the financing in a statement: Cloud adoption is rapid and fast. All companies now use SaaS products but do not acquire and manage them properly. In the meanwhile, virtually every firm is using SaaS products. The amazing growth of Sastrify indicates that the team has already built a broad customer value. In the early days, but with SMB a payment solution could be created for SAP Arriba – a huge market simply in Europe.