Get All Access for $5/mo

SaaS Platform Spendflo Raises $4.4 Million in Seed Funding Spendflo intends to use the seed fund to double down on GTM and engineering efforts

By Akshit Pushkarna

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Siddharth Sridharan, Ajay Vardhan, and Rajiv Ramanan- Founders, Spendflo

SaaS buying and optimization platform for CFOs and finance leaders Spendflo announced that it has raised $4.4M in a seed funding round by Accel India and Together Fund. The funding round also saw participation from investors such as BoldCap and Signal Peak Ventures along with founders and operators from companies like Airbase, Zuora, Ivanti, CleverTap, Slintel, LamdaTest, Haptik, Wingify, and more.

Spendflo intends to use the seed fund to double down on GTM and engineering efforts. The company plans to accelerate its focus on hiring.

Spendflo was founded by Siddharth Sridharan, Ajay Vardhan, and Rajiv Ramanan in 2021 and is headquartered in San Francisco, California, USA. The SaaS market is a very rapidly scaling market.

According to MarketStudyReport, that global SaaS (software-as-a-service) market was worth $ 130.69 billion in 2021. This number is expected to grow to over $151 billion by the next year. However the growing industry has its issues. According to 2020 SaaS trends report, the average company wastes about $135,000 annually on SaaS tools they don't use. The co-founders of Spendflo identified the potential in this waste, which they estimate goes up to 30% of a company's average SaaS spend. Their startup offers companies buying, negotiation, renewal & tracking service for their SaaS subscriptions. Spendflo has companies like Airmeet, Crownpeak, LambdaTest, Urban Company, Wingify,, in its clientele. It also aids companies centralise their SaaS contracts, gain visibility in spending, monitor usage, and provides assisted purchasing. It guarantees savings with benchmarking data unique to Spendflo.

Over the last six months, Spendflo has already managed millions in SaaS spends and saved 23% for its customers on average. The startup has customers worldwide, including fast-growing companies like Airmeet, Crownpeak, LambdaTest, Urban Company, Wingify, and

In a statement, Dinesh Katiyar, Partner at Accel India, said, "Spendflo is committed to bringing back spending efficiency in SaaS without compromising business velocity. We're impressed by Spendflo's vision of how software purchasing can and should be in the future, and we are delighted to be part of their journey."

Manav Garg, Managing Director, Together Fund, added, "With the adoption of SaaS tools increasing rapidly across sectors, managing SaaS contracts is also becoming a major challenge for fast-growing companies. The team at Spendflo will simplify managing SaaS procurements (buying and renewing) and help save companies on their SaaS expenses. Spendflo helps turn SaaS procurements into a tactical driver of business growth. Together Fund is excited to back them and help them scale."

Akshit Pushkarna

Features Writer


California's Fast-Food Minimum Wage Hike Is Already Impacting Franchises. Here's What a New Study Revealed.

Several chains have raised their prices — or closed locations — in response to the wage increase, which has now led to a noticeable decline in foot traffic.

Business News

Apple Is Working on Making Its $3,499 Vision Pro More Affordable — and Mainstream. Here's How.

Apple's product is at least three times more expensive than Meta's version.


Telling Better Franchise Stories Via The Narritive Arc

Storytelling triggers the release of oxytocin, a hormone associated with empathy and trust, fostering a deeper emotional connection with the brand. Let's dive into that.

News and Trends

Amul's MD Jayan Mehta On The Growth of the Company And Its Global Expansion

Gujarat Cooperative Milk Marketing Federation, which sells dairy products under the Amul brand, recently introduced fresh milk in the US market as part of a partnership with the Michigan Milk Producers Association. Now, the organization wants to increase the range of items it offers

Growing a Business

New York News Anchor Rosanna Scotto and Her Daughter Jenna Ruggiero Share the Secret of Running a Successful Family Business

Fresco by Scotto restaurant co-owners Rosanna Scotto and Jenna Ruggiero break down their family's business, how they use social media, and the impact of their philanthropic efforts.

Business News

50 Cent Once Sued Taco Bell for $4 Million. Here's How the Fast-Food Giant Got on the Rapper's Bad Side.

The brand suggested that 50 Cent change his name to match its "Why Pay More?" value menu promotion prices. The rapper was not amused.