Cledara, a UK-based startup that offers a platform for managing software subscriptions, has raised $20 million in a Series A funding round. The funding round was led by EQT Ventures, with participation from 24Haymarket and existing investors Nauta Capital and Anthemis. The funds will be used to further develop the company’s product offerings, expand its customer base, and grow its team.
Cledara was founded in 2018 by Cristina Vila, a former product manager at travel booking site Expedia. The startup’s platform allows businesses to manage their software subscriptions in a centralized location, enabling them to keep track of their spending and to identify any unnecessary or redundant subscriptions. The platform also provides automated reporting and budgeting features, making it easier for businesses to manage their software expenses and to make informed decisions about their subscription usage.
The company’s product offering is particularly relevant in today’s business environment, where many organizations rely on software subscriptions to support their operations. With so many different software solutions available, it can be challenging for businesses to manage their subscriptions effectively, and many struggle to keep track of their spending in this area. Cledara’s platform offers a solution to this problem, providing businesses with greater visibility and control over their software subscriptions.
The Series A funding round is a significant validation of Cledara’s technology and its potential impact on the software management industry. The startup’s focus on streamlining the management of software subscriptions has the potential to save businesses significant amounts of time and money, while also providing greater visibility into their software usage.
The funding round is also a reflection of the company’s strong growth trajectory. Cledara has already attracted a number of high-profile clients, including Square, Uber, and Wefox. The platform has proven to be particularly popular among startups, which typically have a high volume of software subscriptions and limited resources to manage them effectively.
The company’s platform is also well-suited to the needs of remote and distributed teams, which have become increasingly common in the wake of the COVID-19 pandemic. With more and more businesses adopting remote work policies, the ability to manage software subscriptions in a centralized location has become even more important.
Looking ahead, Cledara’s Series A funding will allow the company to further develop its product offerings and to expand its reach in the market. The startup plans to use the funding to hire additional staff, with a particular focus on growing its engineering and product teams. The company also plans to expand its sales and marketing efforts, with a goal of reaching a broader range of customers.
In conclusion, Cledara’s Series A funding round is a significant milestone for the company and for the software management industry as a whole. The startup’s platform addresses a critical need in the market, providing businesses with greater visibility and control over their software subscriptions. The company’s strong growth trajectory and impressive client list are a testament to the value of its product offering. With the additional funding, Cledara is well-positioned to continue to grow and to make a significant impact on the software management industry in the years to come.
In today’s enterprise, SaaS subscriptions are a big part of how businesses run. According to BetterCloud, enterprises with more than 1,000 employees subscribe to around 150 different SaaS applications across their various departments. The problem is that it’s hard to keep track of these apps and what’s happening with their usage at both the team and company level. That’s where companies like Cledara come in, with their software management platform.
With Christmas right around the corner, and Q4 2022 board meetings set to take place, now’s a good time for startups to get their hiring plans in order. Thomvest Ventures’ Eddie Ackerman has prepared a helpful report that offers insight into the hiring velocity of 150 Series A-C enterprise SaaS startups since February 2021, by region and company type.