Sastrify, a Cologne, Germany-based SaaS procurement platform, announced a second closing of its Series B funding round. The company previously raised $32 million in May 2023.
Alongside the funding news, Sastrify announced the acquisition of Amsterdam-based competitor Pengu.
SaaS Investors
The additional investment comes from Reimann Investors.
Reimann Investors is the family office and corporate holding of members of the Reimann entrepreneurial family, who sold their shares in the family business in the late 1990s. Since 2017, Reimann Investors’ venture capital funds have been investing in B2B SaaS, Fintech, and Ecomtech startups from Series A to Growth with a mission to foster cooperation between traditional industrial companies and the market leaders of tomorrow.
Sastrify Use of Funds
The funds will be used for scaling operations, R&D projects, and market expansion.
About Sastrify
Established in 2020 by Maximilian Messing and Sven Lackinger, Sastrify is a provider of SaaS procurement solutions, offering a comprehensive platform to automate and optimize the entire SaaS procurement lifecycle. It offers finance and other business units a platform to optimize the management and cost of the SaaS tools. Trusted by enterprises worldwide, Sastrify empowers organizations to make data-driven decisions, enhance compliance, and achieve cost savings in their SaaS spend.
Funding Details
Company: Sastrify, Inc.
Raised: Undisclosed
Round: Series B
Funding Month: November 2023
Lead Investors:
Additional Investors: Reimann Investors
Company Website: https://www.sastrify.com/
Software Category: SaaS Management Software
Source: https://tech.eu/2023/11/30/sastrify-secures-additional-funding-acquires-competitor-pengu-to-solidify-market-position/