Spendflo, a SaaS buying and management solution, has raised $11 million in a Series A VC funding round — led by Prosus Ventures and Accel.
Spendflo raised $15.4 million from investors, including Prosus Ventures, Accel, Together Fund, Signal Peak Ventures, and Boldcap Ventures.
Spendflo has grown 30 percent month on month since the start of 2022, multiplying its revenue 15 times, growing its customer count by 5X, and expanding the team size fourfold.
Spendflo plans to broaden its North American footprint through the hiring of regional market leads and deploying on-ground activity that will result in greater awareness and Spendflo usage.
Spendflo has helped many businesses, including Mindtickle, Hasura, Drip, 4G Clinical, and Wodify, save up to 26 percent of their annual SaaS expenses with their solution.
