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Cleanshelf raises $8m Series A

Cleanshelf today announces the closure of its Series A funding round, led by Dawn Capital with participation from LAUNCHub.

The investment will be used to accelerate the development of new product features and capabilities to offer CIOs and CFOs greater transparency and control of their SaaS tech stack.

Up to 30% of SaaS spend is commonly wasted and CIOs typically underestimate the number of SaaS vendors deployed by over two times.

This accelerated adoption of cloud and SaaS in the past few years has created unprecedented new challenges for CIOs, CFOs, and business users who monitor and manage technology access, compliance, and spend. 

Cleanshelf’s solution serves as the system of record for all SaaS subscriptions and usage and provides insights to CIOs and CFOs to support proactively managing spend, user access, subscription renewals and cancellations, among others. 

The fresh funds will be used to continue enhancing Cleanshelf’s leading product proposition with new functionalities and to expand the engineering and marketing and sales teams.

Cleanshelf is already a core part of SaaS management for a number of  global corporations, including Hilton, Looker and CoStar Group. 

The platform integrates with over 2,000 SaaS vendors and all leading financial, HR, and Single Sign-On systems, including SAP, Oracle, and Sage. 

Dusan Omercevic, CEO at Cleanshelf said: “SaaS spend is growing rapidly, so CIOs and CFOs need more oversight than ever before on what they’re spending and whether this investment is really driving results.

“Cleanshelf is already working with major global companies to help them assess and easily understand this increasingly fundamental and complex part of day-to-day operations, and we will use this investment to expand the features of our products even further.”

Mina Mutafchieva, Principal at Dawn Capital said: “Cleanshelf surfaces and intelligently manages subscriptions to optimise spend across a library of over 2000 Saas vendors.  A noted entrepreneur in his home country of Slovenia, Dusan has attracted a world class engineering team there to build a product that is winning in the toughest tech market in the world, the US, where the company has its HQ in San Francisco.

“Dawn has a 12-year track record of successfully helping B2B SaaS companies to scale, and I look forward to this journey with Cleanshelf and our partners at LAUNCHub.”