[Cologne / New York] – We’re excited to announce a major milestone in Sastrify’s journey — successfully completing the second closing of our Series B funding round, led by Reimann Investors. In a simultaneous strategic move, we are proud to share that we have acquired Pengu, a key player in the European SaaS procurement market, based in Amsterdam.
The acquisition of Pengu is a landmark achievement for us at Sastrify. It consolidates our position as a preeminent force in the SaaS procurement industry. By integrating Pengu's innovative technology and comprehensive data set into our existing ecosystem, we are positioned to accelerate innovation and expand our portfolio of client solutions. This not only strengthens our presence across Europe but also bolsters our standing as a global leader in the dynamic world of SaaS procurement.
The latest infusion in our Series B funding from Reimann Investors is a testament to our commitment to growth and innovation. We plan to utilize these funds to scale our operations, invest in product development, expand our global reach, and enhance the success of our valued customers.
Sven Lackinger, CEO and Co-founder of Sastrify, expressed gratitude for the ongoing support from investors and excitement about the acquisition, stating, "This Series B extension and the acquisition of Pengu mark transformative moments for Sastrify. The combination of additional funding and the integration of Pengu's capabilities will allow us to better serve our customers, drive innovation, and solidify our position as a global leader in SaaS procurement."
Sastrify has seen exponential growth, with our innovative platform increasingly favored by enterprises aiming to simplify and optimize SaaS procurement workflows. Our solution enables organizations to manage the entire SaaS lifecycle efficiently, from vendor selection to cost optimization, ensuring improved governance, compliance, and cost-effectiveness.
“We are thrilled to partner with Sastrify on its journey to revolutionize SaaS procurement. Sastrify's impressive track record, innovative platform, and strategic vision align seamlessly with our commitment to supporting forward-thinking companies driving digital transformation. As an investor, we recognize Sastrify's potential to redefine the landscape of enterprise software solutions. We look forward to playing a pivotal role in Sastrify's continued growth, empowering organizations worldwide to optimize their SaaS procurement processes efficiently." said Hans-Christian Perle, Managing Director at Reimann Investors.
Sastrify is a leading provider of SaaS procurement solutions, offering a comprehensive platform to automate and optimize the entire SaaS procurement lifecycle. Trusted by enterprises worldwide, Sastrify empowers organizations to make data-driven decisions, enhance compliance, and achieve cost savings in their SaaS spend.
About Reimann Investors
Reimann Investors is the family office and corporate holding of members of the Reimann entrepreneurial family, who sold their shares in the family business in the late 1990s. Since 2017, Reimann Investors’ venture capital funds have been investing in B2B SaaS, Fintech and Ecomtech startups from Series A to Growth with a mission to foster cooperation between traditional industrial companies and the market leaders of tomorrow. Previous success stories include companies such as commercetools, usercentrics, and FinTecSystems.