Increase the return on software investmentSoftware is often companies’ second-biggest investment. Vendr ensures companies get the most value on these investments by helping finance and procurement leaders navigate the initial decision-making and evaluation to the entire negotiation and purchasing process. The funding came quickly and in “the eye of the hurricane,” as Neu says, alluding to inflation, the war on talent and a possible looming recession. He says that Vendr was able to raise funds when many other companies weren’t in part because Vendr’s services help customers cut costs, which is especially important in an economic downturn. Current market conditions are forcing everyone — from CFOs of publicly-traded companies to early-stage founders looking to extend runway — to be more capital-efficient. Managing software costs, one of the largest categories of spend, is an obvious way to do so, but hasn’t been easy until Vendr.

Pressed on what Vendr might be able to do for the selling side of the software market given its present-day buyer focus, Neu declined to share any possible plans.

The first of its kind, Vendr’s SaaS buying platform offers both a product and people-powered service to enable the world’s fastest-growing companies to purchase software quickly and with guaranteed savings. Today, Vendr has facilitated over $1B+ in SaaS purchases across 1,200+ suppliers for Finance and Procurement teams at HubSpot, Brex, Canva, Reddit, Toast, and more. Headquartered in Boston with a second location in Charleston, Vendr was founded in 2019 by Ryan Neu and co-founders Ariel Diaz and Aaron White, who joined the team through the acquisition of Blissfully in 2022. The new funding will accelerate platform development, helping organizations cut costs, manage their second-highest expense – software – and reduce risk in light of the economic downturn.

The company has seen strong growth, processing more than $1 billion in software spending and delivering more than $200 million in software savings for its customers. On the compliance side, Vendr ensures software providers meet security and compliance requirements by coordinating security reviews and leveraging proprietary data on security and compliance information from top software companies. Vendr pitches its benefits as including the ability to increase the return on software investment. The company’s service is designed to allow users to maximize the value of their SaaS investments by assisting in the initial decision-making and evaluation through the negotiation and purchasing process. “Spending on software solutions has drastically increased over the last decade and the number of software companies out there continues to grow,” says Saiprasad, who joined Vendr’s board.

The new funding will accelerate Vendr’s platform development, helping organizations cut costs, manage their second-highest expense – software – and reduce risk in light of the economic downturn. Founded in upwork ui ux designer 2019, Vendr offers a buying platform used by companies to purchase SaaS. The platform provides commercial negotiations, renewal management and contract logistics services by negotiating software purchases.

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