AI-Driven Procurement Platform Vertice Secures $50 Million in Latest Funding Round
Vertice Technology Inc., a procurement management software startup, has announced the successful completion of a $50 million Series C funding round led by Lakestar, pushing its total funding to over $100 million. The latest investment brings the company’s valuation to approximately $500 million. Other participants in the round include Perpetual Growth, CF Private Equity, and existing backers Bessemer Venture Partners and 83North.

Vertice Technology Inc., a procurement management software startup, has announced the successful completion of a $50 million Series C funding round led by Lakestar, pushing its total funding to over $100 million. The latest investment brings the company’s valuation to approximately $500 million. Other participants in the round include Perpetual Growth, CF Private Equity, and existing backers Bessemer Venture Partners and 83North.
Vertice provides an expenditure management platform powered by artificial intelligence, designed to streamline companies’ spending on software and cloud computing infrastructure. The platform offers a unified orchestration layer that uses AI to analyze extensive data points, enabling organizations to make informed purchasing decisions efficiently. With features such as real-time pricing insights, alerts for unapproved spending, and collaboration tools, Vertice aims to optimize every stage of the procurement process.
In a blog post, Roy Tuvey, co-founder and CEO of Vertice, outlined the company’s vision for a modern procurement platform that empowers businesses with actionable insights. Tuvey highlighted the importance of providing real-time benchmarks, analytics, and tools to ensure companies can operate with greater financial control and transparency. According to him, Vertice is building the “integrated backbone” for procurement and finance teams, helping businesses scale efficiently by eliminating unnecessary complexities in the buying process.
Tuvey pointed to the growing challenges in procurement, stating, “Scrutiny of spend has increased, while the capability to deliver savings has not.” He added that global operations, the proliferation of vendors, and siloed data make it increasingly difficult for organizations to maintain control, visibility, and transparency in their spending.
The importance of solving these challenges is underscored by Gartner Inc., which predicts global spending on data centers, software, communication services, and related technologies will grow by 9% this year, nearing $5 trillion. While competitors such as Spendbase Inc., Spendesk SAS, G2.com Inc., and Gartner itself offer solutions in this space, Tuvey asserts that Vertice stands apart by integrating broader business data to deliver more accurate procurement recommendations.
A key feature of Vertice’s platform is its use of contract data, which is processed through AI models to automate purchasing decisions. Tuvey explained, “We surface benchmark pricing insights and analytics that they need at the point of purchase.” He further noted that the platform helps finance teams identify bottlenecks in procurement processes, such as delays in pricing and compliance checks, and resolves them by running these tasks in parallel.
The company has already facilitated over $3.4 billion in software spending for its clients, which include major players like ASML Holdings N.V., Santander Bank N.A., and Euronext N.V.. Vertice claims to help its customers save up to 30% on software expenses while reducing procurement cycle times and limiting unapproved spending. Over the past two years, the company has experienced a 13-fold increase in revenue, though specific figures were not disclosed.
With the latest funding, Vertice plans to enhance its AI-driven capabilities, expand into new markets by opening regional offices, and grow its engineering team. Future developments on the platform’s roadmap include document extraction features, ready-to-use procurement templates, and advanced workflow analytics. These updates aim to further solidify Vertice’s position as a key player in the evolving procurement software market.