SAN MATEO, CA — After raising a seed round from San Mateo-based FounderPartners, Cleanshelf — a company that tracks, optimizes and benchmarks clients' SaaS cloud software spend — made its first acquisition to beef up its software expense management solution. The startup has acquired Squrb, a UK-based specialist in tracking and management of cloud software subscriptions. Terms of the deal were not disclosed.
“We are proud of what we’ve built and accomplished with our SaaS subscriptions management solution,” said Dusan Omercevic, founder of Squrb, Ltd. “The acquisition by Cleanshelf allows these great tools to take on a new phase of growth.” Dusan Omercevic will take over the role of CEO while Aron Grossman, founder of Cleanshelf, will continue to serve as an advisor to the company.
“The growth of cloud-based software of the past several years has delivered significant benefits to all types of businesses. However, the distributed nature of the purchasing process and delivery of cloud-based software has made tracking their costs and utilization very difficult for companies of all sizes. With this acquisition, we’re bringing to the US market the most effective and innovative SaaS expense management platform,” said Aron Grossman.
As part of FounderPartners’ investment, Adam Jackson will join Cleanshelf’s board of directors. “While starting and growing Doctor On Demand for nearly 4 years, we relied heavily on SaaS services across all departments to accommodate our rapid growth,” says Adam. “I've experienced first-hand the significant cost and productivity impact that SaaS spend can have on an organization, if not monitored effectively. Cleanshelf is hands-down the best solution on the market to solve this large and growing problem.”
Going forward, Cleanshelf will invest additional resources to extend the newly acquired SaaS metering and optimization technology beyond 350 cloud apps already supported. Improved tracking and optimization of cloud software subscriptions will allow senior finance executives and department leads to keep pace with the rest of the organization as SaaS becomes the dominant way companies buy software.
Cleanshelf is the leading provider of SaaS expense management, optimization and benchmarking solutions. Cleanshelf’'s cloud technologies help companies save up to 30% on their SaaS spending by closing unnecessary accounts (employees leave, teams grow less than expected, plans stay), downgrading subscription plans, and removing redundant or unused cloud apps. Headquartered in San Mateo, California, Cleanshelf serves dozens of clients, including Codeable, Zemanta, Flaviar, and D·Labs. To learn more about Cleanshelf, please visit www.cleanshelf.com or follow on Twitter @Cleanshelf.