Vendr, already profitable, raises $2M to replace your enterprise sales team
Vendr has developed an enterprise SaaS solution for managing enterprise SaaS.
The new startup, founded by InVision’s former head of enterprise sales Ryan Neu, is another standout from Y Combinator’s latest batch. Contrary to the majority of those businesses, however, Vendr is already profitable.
In classic YC fashion, the company has created software to sell to other startups and as such, it was quick to gain the confidence of top venture capital investors. Headquartered in Boston, Vendr has raised a $2 million round led by F-Prime Capital, with participation from Ashton Kutcher’s Sound Ventures, Joe Montana’s Liquid2 Ventures, Garage VC and angel investors including Canva co-founder & chief operating officer Cliff Obrecht and HubSpot COO JD Sherman.
The company offers subscription-based software, priced depending on company headcount, that helps fast-growing businesses buy and manage enterprise SaaS. In short, the product cuts the human out of the sales process, allowing companies to purchase or upgrade software using software. The goal isn’t to eliminate the sales profession, rather to put an end to “persuasion driven” sales, Neu explains, and to make enterprise software purchases as easy as consumer product purchases.
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