Vertice Raises $50 Million in Series C Funding to Boost Procurement Innovation

Vertice, a leading spend optimization platform based in London and New York, has successfully closed a $50 million Series C funding round led by venture capital firm Lakestar, bringing its total funding to over $100 million. This financing round attracted participation from both new and existing investors, including Perpetual Growth and CF Private Equity, alongside Bessemer Venture Partners and 83North. Vertice has rapidly expanded its revenue by 13x over the past two years, establishing itself as a leader in the procuretech industry by offering a unified platform for procurement teams. The company plans to use the new funds to further its mission of improving procurement processes by opening new offices worldwide and increasing its engineering workforce threefold in 2025. Vertice provides comprehensive procurement solutions that integrate AI-driven insights directly into customizable workflows, significantly reducing purchasing cycles and lowering SaaS and cloud costs by up to 30%. Founded by serial entrepreneurs Roy and Eldar Tuvey, Vertice has gained popularity among leading enterprises like ASML, Euronext, Grant Thornton, and Santander, and serves customers across the US, EMEA, and APAC regions.