Vertice Raises £40M Series C to Revolutionise Procurement with Spend Optimisation Platform

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Simplifying Modern Procurement

Vertice, the leading spend optimisation platform, has announced £40 million in Series C funding led by Lakestar, with participation from Perpetual Growth and CF Private Equity. Existing investors Bessemer Venture Partners and 83North also joined the oversubscribed round, bringing Vertice’s total funding to over £80 million. This latest investment will accelerate Vertice’s growth trajectory as it expands its global footprint and enhances its innovative procurement platform.

 

 

Vertice’s Journey to Leadership in ProcureTech

1. Exponential Growth

• Revenue growth: 13x increase over the past two years.

• Significant expansion of its customer base worldwide.

2. A Unified Platform

Procurement teams face numerous challenges, including:

• Opaque approval processes.

• Rising costs and compliance risks.

• Fragmented solutions for workflow management, contract negotiation, and benchmarking.

Vertice’s platform addresses these issues by:

• Offering fully customisable procurement workflows.

• Embedding AI-supported insights into spend optimisation, usage, and risk management directly within the workflows.

 

 

Key Features and Benefits of Vertice’s Platform

Advanced Capabilities

• Negotiation insights based on £2.7 billion of SaaS and cloud spend data.

• Benchmarking data from over 16,000 software vendors.

Impact on Enterprise Procurement

• Reduced purchasing cycles by more than 50%.

• Curtailed maverick spending.

• Achieved up to 30% savings on SaaS and cloud costs.

Global Adoption

• Trusted by enterprises including ASML, Euronext, Grant Thornton, and Santander.

• Significant growth across US, EMEA, and APAC markets.

• Only spend optimisation platform with a substantial presence in all three regions.

 

 

How Vertice Stands Out

An Integrated Workflow Experience

Vertice’s unique approach brings its data and insights directly into the procurement workflow, enabling:

• Transparent and efficient purchasing for all employees.

• Granular, customisable approvals for procurement leaders.

• A unified platform that enhances control and visibility across all purchases.

Statements from Leadership

Roy Tuvey, Co-Founder & CEO

"After perfecting SaaS and cloud spend optimisation, we’ve brought all our data and insights directly into the workflow experience. Employees can now initiate purchases quickly and transparently, while procurement teams retain full control and customisation."

Stephen Day, CPO at Kantar

"Procurement is a complex process involving every employee, authorised or not. Vertice’s unified platform integrates data and processes, solving challenges and creating opportunities for procurement leaders and stakeholders alike."

Georgia Watson, Partner at Lakestar

"Vertice consistently executes, innovates, and drives growth metrics at scale. They are best positioned to become the unified platform of choice for modern procurement teams."

 

 

The Road Ahead for Vertice

Expansion and Innovation

With the Series C funding, Vertice plans to:

• Open several new regional offices in 2025.

• Triple its engineering team to enhance product capabilities.

• Develop new automated features and integrations to streamline procurement processes.

Driving the Future of Procurement

Vertice aims to:

• Continue redefining procurement efficiency and visibility.

• Strengthen its leadership position in the ProcureTech space.

• Empower organisations to make smarter, more cost-effective decisions.