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Vendr
SaaS buying platform
- 201-500 employees
- B2B
- Enterprise
- Marketplace
- Internal tools
- Procurement
- 501 Boylston St 10th Floor Boston, MA 02116
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Company mission
To change how companies find, buy, and manage SaaS.
40% employee growth in 12 months
Otta's take
Sam Franklin
CEO of Otta
For enterprises, purchasing software is often a drawn-out and expensive process involving multiple stakeholders and salespeople. Vendr has built a platform that allows businesses to purchase software using software. The aim is to make enterprise software purchases as easy as consumer product purchases.
It's a lucrative business, not just because of the proliferation of B2B SaaS tools, but also because of the revenue potential: Vendr charges its customers between 1% and 5% of its software spend that it manages. This model works for Vendr and its customers, as the latter will typically save significantly more than this by using Vendr.
Vendr has already supported an impressive set of customers, including Canva, Grammarly, GitLab, Brex, HubSpot and InVision. An example of its commitment to improvement is in the launch of Vendr 2.0, that combines its SaaS purchasing and management products to give enterprise customers enhanced visibility into software purchase and use, allowing them to reduce overspend and purchase better software faster and cheaper.
Benefits
- Medical, dental & vision: We offer competitive medical, dental, and vision insurance which includes 100% employer paid premiums and an HSA contribution.
- Time off & hybrid work: We encourage flexibility and rest, including unlimited PTO, a WFH stipend, the option to work from our Boston and Charleston offices whenever, an annual company-wide week-long shutdown in July, 12 paid company holidays, and more.
- Mental health & wellbeing: The wellbeing of our team is critical to our success, which is why we offer a wellness/gym reimbursement, a paid Calm app subscription, virtual “Wellness Wednesday Yoga” sessions, and more.
- Parental leave: We offer biological, adoptive, and foster parents paid time off to spend quality time with family.
- Retirement planning: We want planning for the future to come easy so we provide a 401k with a 4% match.
- Growth & development: You'll have access to an annual education reimbursement, success guides, and our manager training and enablement program.
- Culture & workplace: We are a remote-first company and love to get together for in-person events to strengthen relationships.
Company values
- Kindness-as-a-Service: We strive to be friendly, generous, candid, and considerate in all of our interactions, specifically those that can evoke a lot of emotion, like a negotiation. We keep others top of mind with everything we do, and we believe it is unkind to sugarcoat truths.
- Create fair playing fields, everywhere: We believe that opportunity is abundant, as long as we create a world in which everyone plays by a fair set of rules. We believe in identifying what playing fields are unfair, and working to change them. When the fields are fair, excellence becomes clear – and clearly rewarded.
- V is for velocity: Our bias is always toward speed in the right direction. We prioritize shipping over polishing. We know that the best way to move fast is for everyone to feel ownership and autonomy over their work.
- Pursue truth: We care more about what is right than who is right. We have the curiosity to want to seek out truth. We pride ourselves on being data-informed and work to share data wherever and to whomever it may help.
Funding (last 2 of 5 rounds)
Jun 2022
$150m
SERIES B
Feb 2022
$66m
LATE VC
$282m
Total funding
This company has top investors
Founders
Ryan Neu
(CEO)Prior to founding Vendr, Neu was head of Enterprise Sales for InVision and Director of SMB Sales for HubSpot.