Company: Vertice
Founders: Eldar Tuvey & Roy Tuvey
Website: https://www.vertice.one/
About Vertice
Vertice was launched in 2021 by serial tech entrepreneurs Roy and Eldar Tuvey. The brothers have two decades of experience running enterprise SaaS companies, most notably founding ScanSafe and Wandera, which exited for $200m (Cisco) and $400m (JAMF). This background inspired the Tuveys to apply their deep market knowledge and first-hand experience to radically improve the process of SaaS and cloud purchasing.
Vertice helps its customers solve one of the biggest problems facing businesses today – spiralling SaaS and cloud spending. Many businesses are overpaying on software and cloud costs by as much as 30% every year, which is holding companies back from operating efficiently and eating into money better spent on innovation.
This is particularly important in a down economy like we’re in at the moment. Companies quite simply don’t have the spending power to deal with year-on-year price increases from cloud vendors. On average companies have over 130 software contracts which is a huge time burden for finance teams to manage and this often gives big SaaS companies the upper-hand in negotiations.
Vertice is a tech-enabled service which enables companies to cut cloud and SaaS spending by as much as 25%. Its team of expert negotiators work directly with vendors to achieve better terms for businesses and Vertice customers can see all their SaaS and cloud spending in an intuitive dashboard, without having to manage multiple contracts in separate email threads. It empowers companies of every size and industry to get more visibility and control of their software and cloud spending and leverages automation and machine learning to deliver guaranteed cost savings.
Since launching in H2 2021, Vertice has achieved tremendous results. It secured a $26 million Series A round led by 83 North and Bessemer Ventures. Its ARR growth is in the top 5% of scale-ups on a benchmark basis and it is seeing top quartile growth endurance. It now manages over $1.1bn of SaaS spend for high-growth customers, including Freetrade, Tide and Sisense. On average, Vertice customers achieve 7x ROI. It has a 4.8* rating on G2, with customers praising its negotiation ability; diligence and proactiveness; and commitment to customer service.
In September 2023, Vertice launched its Cloud Cost Optimization product to enable organisations to reduce their cloud spend. With the launch of Cloud Cost Optimization, Vertice is the first company globally to tackle the problem of soaring SaaS and cloud costs in one platform.
2024 is set to be another exciting year for Vertice as it looks to scale quickly but responsibly. It will continue its global expansion and is on a hiring push across all functions – particularly in the R&D and Customer Success teams. With so much of the tech space currently struggling through a period of deflated expectations, Vertice’s value proposition is resonating strongly with companies across the world.
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