Cologne, Germany
Sastrify is a Germany-based SaaS procurement platform that acts as a virtual procurement department for technology companies, helping them discover, compare, negotiate, and manage software subscriptions. The company targets businesses with 100 to a few thousand employees and prices its service as an annual tiered subscription based on the customer's total SaaS spend. Founded by Sven Lackinger and his co-founder, Sastrify hired its initial team in November 2020 and commercially launched in February 2021. Within roughly eleven months of launch, the company had grown from zero to approximately $140,000 in monthly recurring revenue across 70 customers, with an average contract value of $25,000 annually and a largest customer paying $60,000 per year. The company raised a pre-seed round of $1.3 million on a $6 million valuation in late 2020, followed by a $7 million seed round at approximately $27 million pre-money in mid-2021. HP led the seed round. With 53 employees and a rapidly expanding sales team, Sastrify was using the seed proceeds to scale across Europe and into Asia.
- Revenue
- $31.1M
- Customers
- 70
- Year founded
- 2020
- Funding
- $55.3M
- Team size
- 159
