Vendr has processed over $1.5B in transactions from over 2,000 suppliers with customers like Webflow, Canva, and Lattice, with 300+ employees and a $150M Series B round at a $1B valuation. The company targets the inefficiency in B2B software sales where the average SaaS sales cycle takes 85 days, representing a failure for both buyers and sellers.
Cyborg Score Rationale
With $1.5B in processed transactions, 300+ employees, and a $1B valuation after Series B funding, Vendr demonstrates strong product-market fit. However, growth has slowed based on recent layoffs noted in employee reviews, and the company faces competition in the SaaS procurement space.
Top Insights
Vendr has saved customers over $250M since starting in 2019
Total funding raised: $212M across multiple rounds
Investors include Sound Ventures (Ashton Kutcher), Liquid 2 Ventures (Joe Montana), F-Prime Capital, and angel investors including Canva co-founder Cliff Obrecht
Target market is businesses that spend between $1 million and $20 million per year on software
Named Competitors
Procure-to-Pay — Enterprise procurement and business spend management
SaaS Management — Software asset management and SaaS optimization
Procurement Platform — Vendor management and SaaS procurement tools
Recent Developments
(December 2024) Expanded operations with Charleston office serving as major hub for customer-facing teams
(March 2021) Announced $60M Series A funding round led by Tiger Global
(June 2020) Raised $4M on top of previous $2M seed round from Craft Ventures
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