Vendr, Which Helps Companies Buy Software, Reaches $1 Billion Valuation [Forbes]
HubSpot, Inc. (HUBS)
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Source: Forbes
SaaS-buying platform Vendr's co-founders.Alex JoachimVendr, a Boston-based startup that aims to help companies buy, manage and renew software more quickly and at a lower cost, has reached unicorn status. On Thursday, Vendr announced that it was valued at $1 billion after raising $150 million in a Series B venture round amid a tough market for new venture funding.Craft Ventures and SoftBank Vision Fund 2 co-led the funding round, which waspreviously reported by BloombergForbes’Next Billion-Dollar Startups List in 2021“We created this category,” says Ryan Neu, Vendr founder and CEO. Neu, 37, founded the company in 2019 because of his frustration with buying and selling SaaS in previous jobs — and wanted to address the inefficiencies he saw in the system.The company emerged around the time the Covid-19 pandemic began to spread, causing businesses to shift towards using more subscription-based software. As SaaS software usage has increased, companies spend more time and money buying it, w
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