Vertice, a spend optimization platform, has successfully raised USD 50 million in Series C funding, led by Lakestar. This latest investment brings the total funding to USD 100 million, with participation from Perpetual Growth, CF Private Equity, and existing investors like Bessemer Venture Partners and 83North.

The oversubscribed funding round marks a significant step in Vertice's growth, enabling the company to expand its global revenue and customer base while maintaining capital efficiency. The new funds will be directed towards developing a product tailored for modern procurement teams.

In 2025, Vertice plans to establish several regional offices and significantly enhance its product development by tripling its engineering team. The introduction of automated product capabilities and integrations aims to assist enterprise procurement and finance teams in improving visibility, optimizing processes, reducing costs, and making informed decisions.

Procurement teams often struggle with unclear approval processes, rising costs, compliance issues, and a lack of clarity regarding pricing. The market has responded with fragmented solutions, including procurement workflow builders and SaaS spend optimization tools. Vertice addresses these challenges by offering a unified platform that consolidates these solutions.

The platform provides customizable procurement workflows that deliver AI-driven insights into spend optimization, usage, and risk management directly within the workflow. These insights are derived from Vertice's management of USD 3.4 billion in SaaS and cloud spending for numerous enterprise clients, along with benchmarking data on over 16,000 software vendors. The company claims its workflows have reduced purchasing cycles by more than half and decreased maverick spending, achieving cost reductions of up to 30% in SaaS and cloud expenses.

Following a successful USD 25 million Series B round, Vertice has focused on expanding its service offerings and helping more companies manage their SaaS and cloud costs. The fintech company has also prioritized product innovation and global market expansion with its latest funding.

Company officials noted that this funding round was conducted entirely in-house to maintain strong relationships with their investors.