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Too many subscriptions? Many of us feel this way, and so do companies: In times of recession, it’s more important than ever to cut unnecessary spending. Is this why SaaS management solutions have become ubiquitous? Let’s investigate. — Anna
Fighting SaaS sprawl
“SaaS sprawl is a natural result of the SaaS revolution,” londonbusinessblog.com contributors Mark Settle and Tomer Y. Avni wrote in a guest column last November. Paying for and managing countless SaaS subscriptions might go without saying, but it’s still a headache for businesses, which probably explains why solutions that help them manage this pain point are quite popular with investors.
Just this week, UK SaaS management company Cledra announced a $20 million Series A funding round, londonbusinessblog.com’s Paul Sawers reported. This follows previous pre-seed and seed rounds, bringing the startup’s total funding to about $24 million to date.
As weird as it feels to write this, $20 million is no longer a ton of money in our strange little world. But Cledara’s Series A round ended in a downturn. And it’s the SaaS management category as a whole that VCs bet on: several Cledara competitors have also raised notable amounts of venture capital in recent years.