Viio

Viio is an intelligent spend management platform that helps companies optimize their software subscriptions and reduce unnecessary expenses. The Copenhagen-based company provides an AI-powered platform to automatically discover, track, and analyze an organization's software vendors, contracts, licenses, and usage. Through this comprehensive visibility, Viio identifies opportunities for cost savings, negotiates with vendors leveraging data-driven insights, and assists customers in making informed decisions on retaining or cancelling subscriptions.

The impetus behind Viio's solution stems from the rapid proliferation of SaaS (Software as a Service) and cloud applications during the Covid-19 pandemic and the subsequent need for cost optimization as economic conditions tightened. According to Gartner, up to 30% of software spend is wasted, underscoring the significance of Viio's offering.

Viio's approach combines an intelligent platform with expert guidance. While AI and automation handle the bulk of the process, Viio's specialists work closely with customers to execute optimization strategies, ensuring maximum value realization. The company claims to have helped clients achieve significant savings, with one customer reporting over EUR 150,000 in cost reductions within two years of using Viio's services.

In June 2024, Viio secured over EUR 3.3 million in funding, led by the venture fund North Ventures and a notable group of investors, including industry leaders. This investment aims to fuel Viio's ambitious growth plans, with a focus on expanding its presence in the UK and across Europe.