BOSTON--(BUSINESS WIRE)--Vendr, the world's first SaaS buying platform, announced today that it has acquired Blissfully, a leading SaaS management platform that enables high-growth organizations to manage their suppliers, unlock visibility into their SaaS stack, and identify potential cost savings all from one system of record.
The announcement follows a year of rapid growth for SaaS buying category creator Vendr. After becoming a Series A company in March 2021, they've quickly scaled to over 225 employees and achieved 3x growth in the last year. Together, the companies have processed over $1B in software spend and will be blending their buy-side and management solutions to bring their combined 500+ customers a single solution to purchase SaaS at the best price and manage it with ease: completing the SaaS buying lifecycle.
"Not long ago, we were a team of three at Y-Combinator with a dream to change the way people buy software," says Vendr CEO Ryan Neu. "Today, we're excited to merge the best way to buy software with Blissfully's leading SaaS Management system of record—bringing our customers the future of software procurement."
According to Gartner, companies will be spending $140B on software this year alone, and it's projected to grow by approximately 20% each year, reaching a whopping $250B by 2025. As companies grow and their SaaS spending increases, their software contracts become increasingly complex and difficult to manage. What's more, most companies start with a decentralized buying process, which means there's limited visibility into past software purchases and overall spend. To get their SaaS stack management into a proactive state, it usually takes several months to track down existing contracts, manually reconcile the data, and identify duplicative tooling. At which point, it's likely that the window to negotiate dozens of renewals has been missed.
"The software industry is evolving, but the way teams purchase and manage SaaS hasn't, until now," says Blissfully Co-founder and CEO Ariel Diaz. "Blissfully and Vendr complete the puzzle. We both quickly identified a considerable customer and market need as the tech industry shifted to SaaS. Together, we will provide a single source of truth and eliminate the plethora of buying and management inefficiencies that companies face when they go it alone."
Blissfully was founded in 2016 by serial entrepreneurs Ariel Diaz and Aaron White after recognizing that companies were using more SaaS than ever, yet still relied on multiple disjointed systems to try and manage it all. They knew that companies could be using technology better, more like a superpower—to grow bigger, faster, smarter—over their competition. Blissfully's prioritization and expertise in technology led them to build dozens of integrations and workflows that not only made its customers' lives easier and saved them money but also meaningfully improved security. Some of the most notable feature benefits include automatic SaaS discovery (which identifies software that's used throughout an entire company to eliminate shadow or duplicative spend), benchmark spend and usage reports by company stage, and equipping teams with detailed SaaS adoption and usage stats to better inform their decisions about renewals.
"We've been a happy customer of both Vendr and Blissfully for years now. With Vendr, you're paying a fair price every time you buy software, and with Blissfully, you have visibility into what your company owns. Merging SaaS buying with SaaS management is the future of software procurement—it gives my team full visibility and empowers them to make informed buying decisions," says Drift VP of Finance & Operations Dave Vital.
Vendr and Blissfully remain dedicated to empowering their customers as they navigate the increasingly complex software lifecycle. Those interested in learning more about the product offering can get in touch here.
The entire Blissfully team will join Vendr as part of the merger. Vendr CEO, Ryan Neu, started the company as a solopreneur and is excited to welcome the experience of Ariel Diaz and Aaron White as Co-founders to the company.
About Vendr
Vendr is changing how companies discover, buy, and renew SaaS. The first of its kind, Vendr's SaaS buying platform offers both a product and people-powered service to enable the world's fastest-growing companies to purchase software quickly and with guaranteed savings. Today, Vendr has facilitated over $1B+ in SaaS purchases across 1,200+ suppliers for Finance and Procurement teams at HubSpot, Brex, Canva, Reddit, Toast, and more.
Headquartered in Boston with a second location in Charleston and 200+ employees, Vendr is a Series A company founded in 2019 by Ryan Neu. Learn more at vendr.com.
About Blissfully
Blissfully supercharges Finance, Procurement, and IT teams with its best-in-class technology to manage their SaaS stack, unlock visibility into what software their company owns, and identify potential cost savings. Teams at Airtable, CircleCI, Drift, Mural, and hundreds more rely on Blissfully as their go-to system of record for SaaS management. Learn more at blissfully.com.
