London-based Vertice raises €47.9M to simplify procurement with unified platform

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London-based Vertice, a spend optimisation platform, has raised $50M (nearly €47.97M) in a Series C round of funding. This brings the company’s total funding to over $100M (nearly €95.91M).

Lakestar led the current round. Other investors include Perpetual Growth, CF Private Equity, and existing backers Bessemer Venture Partners and 83North.

Capital utilisation

Vertice has raised funds in an oversubscribed Series C round, marking a milestone in its 2.5-year growth. In the past two years, the company has increased its revenue 13x.

The investment will further support Vertice’s goal to build a unified platform for procurement teams. 

In 2025, Vertice plans to open new regional offices and expand its engineering team. New product features and integrations will help procurement and finance teams improve visibility, streamline processes, reduce costs, and make better decisions.

Simplifying procurement

Procurement teams face challenges with approval processes, rising prices, compliance issues, and unclear pricing. Current market solutions are separate tools for workflow building, contract negotiation, benchmarking, and SaaS spend optimisation. Vertice addresses these issues by offering a unified platform.

Vertice provides customisable procurement workflows with AI-supported insights on spend optimisation, usage, and risk management. These insights come from Vertice’s experience managing $3.4B in SaaS and cloud spend and data on over 16,000 software vendors.

Vertice claims that its workflows have reduced purchasing cycles, minimised maverick spending, and lowered SaaS and cloud costs by up to 30 per cent.

Roy Tuvey, founder and CEO at Vertice, says, “We created our own unfair advantage. After spending two years perfecting our SaaS and cloud spend optimisation, achieving product-market fit and taking market share from established players, we’ve brought all of our data and insights directly into the workflow experience.”

“All employees can now initiate any purchase, quickly, transparently and at the best price, while procurement can fully customise the workflows to their needs and embed granular approvals.”

Vertice’s solution has been adopted by finance and procurement teams at companies like ASML, Euronext, Grant Thornton, and Santander. In the past 12 months, Vertice has expanded its enterprise customer base in the US, EMEA, and APAC.

Stephen Day, CPO at Kantar and a member of Vertice’s Advisory Board, adds, “The curse and the blessing of procurement is that it is the only business process that any employee could perform – with or without authorisation. Control and visibility of every purchase therefore becomes essential, but it can be painfully difficult when data and intelligence are disparate.”

“Unifying these data sources and processes into a single platform that is built with the stakeholder experience in mind, as much as for procurement leaders, solves so many challenges – and is a huge opportunity for Vertice.”

Vertice was founded by Roy Tuvey and Eldar Tuvey, who have two decades of experience in running enterprise SaaS companies. They previously founded ScanSafe and Wandera, which were acquired for $200M by Cisco and $400M by JAMF.

Brief about Lakestar

Lakestar is a pan-European venture capital firm founded by Klaus Hommels in 2012. It manages over €2B across early-stage and growth funds, supporting disruptive tech businesses with advice in areas like marketing, recruitment, and product development. The firm has investments in companies such as Revolut, GetYourGuide, and Blockchain.

Speaking about the investment in Vertice, Georgia Watson, Partner at Lakestar, says, “Vertice has consistently demonstrated its ability to execute, innovate, and drive key growth metrics year after year, all at scale. We firmly believe there is no organisation better positioned to become the unified platform of choice for the modern procurement team.”

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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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