Vertice raises £40m Series C led by Lakestar to simplify procurement through its spend optimisation platform

Vertice, the spend optimisation platform, today announced £40m in Series C funding led by Lakestar. This investment brings the total raised to over £80m. Additional participants include Perpetual Growth and CF Private Equity, alongside existing investors Bessemer Venture Partners and 83North.

This oversubscribed round is the latest milestone in Vertice’s 2.5-year growth journey, exponentially scaling its worldwide revenue and customer base whilst maintaining best-in-class capital efficiency. The company has grown revenue 13x over the past two years. The Series C investment will further accelerate Vertice’s mission to create the go-to unified backbone for modern procurement teams. In 2025, Vertice will open several new regional offices and drive product development by tripling its engineering team. New automated product capabilities and integrations will help enterprise procurement and finance teams improve visibility, streamline processes, reduce costs, and make better decisions.

Procurement teams struggle every day with opaque approval processes, rising prices, compliance threats, and a lack of clarity over best pricing. The market’s current response is disparate and disconnected point solutions, including procurement workflow builders, contract negotiation, benchmarking data, and SaaS spend optimisation. Vertice has seized a recognised leadership position in procuretech by delivering all of this within a single, unified platform.

Vertice offers fully customisable procurement workflows that deliver AI-supported insights into spend optimisation, usage, and risk management directly within the workflow itself. These insights are based on Vertice’s negotiation experience across £2.7bn of SaaS and cloud spend on behalf of hundreds of enterprise customers globally, plus the unmatched benchmarking data Vertice has on 16,000+ software vendors. Vertice workflows have consistently more than halved purchasing cycles, curtailed maverick spending, while reducing SaaS and cloud costs by as much as 30%.

Vertice’s proposition has been eagerly adopted by hundreds of finance and procurement leaders, including the teams at ASML (AMS: ASML), Euronext (EPA: ENX), Grant Thornton, and Santander (BME: SAN). In the last 12 months, Vertice has significantly grown its enterprise customers in the US, EMEA, and APAC – the only spend optimisation platform to have a significant presence and customer base in all three regions.

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.

Roy Tuvey, Co-founder & CEO

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.

Stephen Day, CPO at Kantar

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.

Georgia Watson, Partner at Lakestar

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