As inflation and general economic uncertainties spur C-suites to identify cost-cutting areas within their organizations, software-as-a-service (SaaS) spend is becoming a prime target.

SaaS purchasing platform Vertice reports that enterprises are overpaying between an average of 20%-30% for collaboration tools.

Businesses are spending billions annually on their software-as-a-service (SaaS) stack while enduring countless hours of buying, renewing, negotiating and managing their services.

Their experience, pricing data, and intimate knowledge of the mechanics of SaaS renewals enable Vertice to streamline entire SaaS procurement processes and provide visibility to make informed business decisions.

Vertice emerges from stealth with public release of its SaaS purchasing solution

Designed to help businesses intelligently reduce their annual software spend by 20-30%, Vertice streamlines the purchasing process and addresses the continuous uptick in the cost of SaaS applications

London-based SaaS purchasing platform Vertice 'has come out of stealth, and announced on Thursday that it has secured $26M (approximately £24.7M) in a Series A round of funding led by 83North and Bessemer Venture Partners.

Vertice, a startup that manages businesses' software renewals, has emerged from stealth following a $26m (£20.8m) Series A round led by 83North and Bessemer Venture Partners.