UK’s Cledara raises €19.7M to help companies discover, buy, and manage software

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London-based Cledara, a platform that helps teams discover, buy and manage software subscriptions to grow their business, announced on Monday, September 12, that it has raised $20M (approximately €19.72M) in a Series A round of funding.

The round was led by CommerzVentures, with participation from Nauta Capital, Notion Capital, Carbide Ventures, and Massive.

Founded in 2014, CommerzVentures is a fintech-focused VC firm that has been independent since 2019 and manages €550M across three funds (2014, 2019 and 2022) with a focus on financial returns. It backs early-stage fintech and insurtech companies starting at Series A in Europe, Israel, the US, and Africa. Its initial investment size ranges from €3M to €20M.

Capital utilisation

Cledara says it will use the proceeds to accelerate its expansion in the US, where the company launched its services in March and has witnessed “tremendous” growth and interest from US companies. The US has become Cledara’s second-largest and fastest-growing market.

“We are humbled and beyond excited for this next stage of growth for Cledara. Humbled because of the over 800 businesses in the UK, Europe and now the US that have put their trust in us to help them become better. We work hard every day to solve the tension growing companies have between fast growth and the resulting chaos created by a lack of processes and control,” the company mentions in a blog post. 

Following this fundraising, Cledara’s founder Cristina Vila and co-founder Brad van Leeuwen will relocate to Denver (Colorado, US) to lead the expansion plan in the US. With offices in Denver, London and Barcelona, the company is also actively hiring for sales, marketing, operations, and tech roles.

What services does Cledara offer?

Every day, businesses utilise more SaaS, but few sufficiently manage it. The reason – although organisations have evolved, the tools used to manage their software have not. This is where Cledara wants to make a difference.

Founded in 2018, the company has developed a platform to enable businesses to deliver visibility and control of all their SaaS so they can concentrate on servicing their customers.

Cledara claims to be the all-in-one SaaS management platform offering everything from discovery through purchase, management, and cancellation. The company is supported by a wide range of advisors from companies such as Techstars, Mastercard, Anthemis, and Morgan Stanley.

Currently, the London-based startup is available in the US and 28 countries across Europe, including the UK, Ireland, France, Germany, Spain, and The Netherlands.

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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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