Sastrify

Sastrify is a leading digital procurement platform that helps businesses optimize the management and costs associated with their software-as-a-service (SaaS) subscriptions. Founded in 2020 by entrepreneurs Maximilian Messing and Sven Lackinger, the Cologne-based company offers a centralized solution for companies to purchase, renew, and streamline their SaaS procurement processes.

Sastrify's platform provides a comprehensive overview of a company's entire SaaS landscape, enabling teams to visualize and manage their contracts, identify potential savings, and discover new tools. Through partnerships with over 50 SaaS providers, including Google, Miro, and 1Password, Sastrify empowers clients to browse and procure software efficiently, following structured procurement processes at best-in-market prices.

The platform leverages proprietary data and benchmarking to flag underperforming contracts, offer optimized solutions, and handle renewals. By automating and centralizing SaaS procurement, Sastrify aims to reduce the time and resources companies spend managing their software subscriptions. The typical business overspends by more than 30% on SaaS costs and wastes over 400 hours annually on contract management.

In May 2023, Sastrify raised USD 32 million in a Series B funding round led by Endeit Capital, with participation from Simon Capital, HV Capital, FirstMark Capital, and TriplePoint Capital. The funds will support the company's global expansion, with a focus on scaling its teams in the US and Europe, and accelerating product development for mid-market and enterprise customers.

Key customers and partnerships

In November 2023, Sastrify acquired Amsterdam-based SaaS procurement firm Pengu, integrating its technology and data resources to strengthen its European presence and cement its position as a market leader in the SaaS procurement industry.

Sastrify powers SaaS procurement for fast-growing companies like sennder, Pleo, Babbel, Bitvavo, Temper, and Capchase, a non-dilutive financing provider for SaaS companies. The company has also formed a partnership with Capchase to provide flexible financing options for SaaS licenses through its recently launched Sastrify Marketplace.