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-0.00420351281112114 0.000872098093593567 -0.00767795161599784 -0.0127326321664662 -5.23258856155664E-05 0.010151221809429 -0.00263373624265256 -0.0126803062808504
Stock impact report

Software Procurement Startup Vendr Gains $1 Billion Valuation [Business News Network (BNN) (Canada)]

HubSpot, Inc. (HUBS) 
Last hubspot, inc. earnings: 2/12 04:11 pm Check Earnings Report
US:NYSE Investor Relations: ir.hubspot.com
Traditionally, enterprise-level software acquisition requires months of discussions between procurement teams and salespeople. Vendr, founded in 2019, negotiates and manages contracts, and has processed more than $1.3 billion of transactions. “Software is now a top-five line item for the vast majority of companies,” said Ryan Neu, Vendr's founder who used to lead sales at HubSpot Inc. “We identified that most companies were overpaying on software by 20-25%.” Vendr is particularly popular among mid-size companies without the leverage and procurement teams of a huge corporation that can lead to favorable deals. Its average customer has 750 to 1,000 employees. The list includes Canva Inc., DraftKings Inc. and the Washington Post. Typical customers have more than 180 applications under management, Neu said. Craft Ventures -- whose co-founder David Sacks sits on Vendr's board -- led the funding round alongside the SoftBank Vision Fund 2. The two VC firms were joined by Sozo Ventures Show less Read more
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