Vertice Raises $50 Million to Expand Procurement Platform

Vertice, a London-based spend optimization platform, has successfully raised $50 million in a Series C funding round led by Lakestar, bringing its total funding to over $100 million. The funds will be used to open new regional offices and triple its engineering team, aiming to enhance product development and automation. Vertice's platform helps procurement and finance teams streamline processes, improve visibility, and reduce costs by providing AI-supported insights into spend optimization. Notable clients include ASML, Santander, and Euronext, with the company reporting significant growth and a thirteenfold revenue increase since its inception. Co-founders Roy and Eldar Tuvey emphasize their commitment to simplifying procurement processes and enabling organizations to make better purchasing decisions. The funding marks a significant milestone in Vertice's trajectory as it seeks to solidify its position as a leader in the procurement technology space.