Boston, United States
Overall Rank: 37
Category: Business Processes
Category Rank: 6
- Top Software Company of 2023
- Power 500 Software Company
Vendr is a renowned company founded by Ryan Neu in 2018 and has its headquarters in Boston, United States. It specializes in assisting organizations with their software-as-a-service (SaaS) procurement processes. Vendr is the product that is offered by the company and essentially functions as an extension of the team responsible for managing an organization’s software stack, providing expertise and support throughout the procurement lifecycle.
Their team consisting of 250+ members has successfully established themselves as the category creator and leader in this field, offering valuable services to SaaS buyers worldwide. With a track record of serving over 500 organizations and collaborating with thousands of stakeholders, Vendr has gained the trust of numerous clients. By partnering with Vendr, these organizations can streamline their SaaS purchasing procedures and experience significant benefits.
One of the primary advantages offered by Vendr is the ability to save time. Their team of experts takes on the complex task of managing SaaS procurement, allowing the organization’s internal team to focus on other critical areas. Moreover, Vendr’s services contribute to substantial cost savings for organizations. By leveraging their expertise and relationships within the SaaS industry, Vendr can secure favourable pricing and terms for their clients. They aim to optimize the organization’s software spend and ensure that they are getting the best value for their investment.
Vendr has received funding from a total of 11 investors. Among the recent investors are well-known names such as Y Combinator and Sound Ventures. These investments have provided Vendr with valuable financial support and recognition within the industry.
Overall, Vendr’s role as a trusted partner in SaaS procurement has made them a go-to solution for organizations looking to simplify their software stack management. Their services result in time and cost savings, as well as a reduction in the complexities and challenges associated with SaaS procurement.
The key features offered by Vendr includes:
Finding Software In Hastle Free Manner
The platform helps organizations evaluate their competitive options in the SaaS market. It provides pricing benchmarks and industry trends based on data collected from billions of dollars’ worth of deals. This feature aims to empower organizations with valuable insights and data-driven information to make informed decisions about their SaaS procurement. In addition to pricing benchmarks, Vendr also offers insights into industry trends.
Purchasing Software in a Time Effective way
Vendr combines the expertise of their SaaS buying experts with real-time deal insights. It aims to create a streamlined and efficient purchasing process for organizations, leveraging the best pricing data available. Overall, Vendr aims to simplify and optimize the SaaS purchasing experience, making it as easy as possible for organizations to acquire new tools and technologies for their teams.
Centralized SaaS Management
The platform assists organizations in effectively managing their SaaS suppliers. It offers a centralized system of record where all supplier information can be organized and maintained. By consolidating software records, the platform helps enhance overall spend visibility and control.
Comprehensive Vendor Ecosystem
Vendr provides organizations with the opportunity to join the Vendr Ecosystem comprising of a network of over 2,000 software suppliers, aiming to connect buyers with the right products at fair prices. The ecosystem promotes fair pricing, ensuring that buyers receive competitive and reasonable pricing for the software solutions they require.
Vendr has received largely positive reviews and is commended to be particularly well-suited for fast-growing companies that need to scale their software stack quickly and efficiently. It empowers these organizations to procure software rapidly, helping them stay agile and adaptable in a competitive business landscape. Vendr’s SaaS buying platform is applauded to be a game-changer in the industry, redefining how companies approach the acquisition and management of SaaS solutions.
According to G2, Vendr rated 4.6 out of 5 stars based on over 100 reviews. Customers have applauded Vendr’s SaaS buying platform for its ability to ground every purchase in real SaaS purchase data, providing valuable insights that inform decisions and negotiations.
Customers highly value the invaluable service provided by Vendr, particularly in negotiating contracts on their behalf. The convenience of having all platforms centralized in one location is also highly appreciated. Customers praise Vendr’s team for their engagement and deep level of assistance across various stages, including sales, onboarding, account management, deal negotiation, and technical support.
The tangible benefits of using Vendr are evident, with real savings and improved deals being achieved, surpassing the cost of using Vendr’s services. The software itself is highly regarded as an exceptional management tool that has become indispensable to customers. Overall, customers have expressed their satisfaction with Vendr, highlighting the significant value it brings to their organizations.
- Number of customers globally: 500+
- Number of employees:250+
- Number of investors: 11
- Number of companies acquired: 2. The most recent acquisition was Blissfully (Feb, 2022)
- $250M + is the amount customers saved utilizing Vendr
- Vendr has a $1 Billion Valuation (June, 2022)
Rating and Commentary
Under the leadership of Ryan Neu who is leading a team of over 100 employees, Vendr has experienced remarkable growth in the recent past. Backed by prominent investors such as Y Combinator, Sound Ventures and Craft Ventures, it has continued to grow exponentially. The platform offers a unique combination of technology and human expertise, providing customers with a streamlined and efficient purchasing process.
Vendr’s software is considered outstanding, serving as an indispensable management tool for customers. The platform’s access to current contracts and usage data speeds up renewals and purchases, saving valuable time. The overall sentiment from customers is that Vendr delivers tangible value that outweighs its cost, with customers experiencing real savings and improved outcomes.
Despite, facing high competition from big companies such as Zylo, Airbase and Torri, Vendr continues to be the pioneering SaaS buying platform for more than 40 years. It continues to find innovative solutions to revolutionize the way companies discover, purchase, and manage SaaS solutions. It stands out as a unique platform that combines the power of technology and human expertise to facilitate fast and cost-effective software procurement for rapidly growing companies.
Vendr essentially functions as an extension of the team responsible for managing an organization’s software stack, providing expertise and support throughout the procurement lifecycle. It’s important to note that Vendr’s services are tailored to meet the specific needs of each organization, providing a customized approach to SaaS procurement and management. However, these are some of the key services and solutions that Vendr offers
In summary, Vendr is a game-changer in the SaaS procurement space, offering a no-brainer solution that combines cutting-edge technology, expert assistance and guaranteed savings. Vendr offers a remarkable startup opportunity with significant growth prospects and is well-positioned to capitalize on market opportunities and continue its upward trajectory.
Ryan Neu, CEO
Ryan is responsible for establishing and leading Vendr as its founder and CEO. Ryan currently leads a team of over 100 individuals at Vendr, focusing on developing the buy button for SaaS. Prior to establishing Vendr, Ryan gained recognition as an accomplished leader in B2B SaaS sales at InVision and HubSpot. Through his experience in these roles, he acquired expertise in the SaaS industry and gained firsthand knowledge of the challenges that Vendr aims to address.
Emily Campbell, Director of Product Design and Research
Emily Campbell currently serves as the Director of Product Design & Research at Vendr. Prior to joining Vendr, Emily held the role of VP at BookClub from June 2020 to April 2022. With her extensive background in product design and research, Emily brings a wealth of experience to Vendr. She is deeply passionate about assisting companies in creating exceptional products that enhance people’s lives.
Andrew Stockwell, Senior Director of Operations
Andrew Stockwell holds the position of Senior Director of Operations at Vendr, where he showcases his expertise as a strategic and entrepreneurial leader on a global scale. With a strong inclination towards constructing Software as a Service (SaaS) and information services ventures, he is dedicated to enhancing both customer and employee experiences. Before joining Vendr, Andrew Stockwell served as the Senior Director of Operations at ZoomInfo.
Aaron White, CTO
Aaron White presently serves as the Chief Technology Officer and Co-Founder of Vendr. Earlier, he occupied the same positions at Blissfully, which later became part of Vendr through acquisition. Aaron is widely acknowledged as a proficient and successful entrepreneur, renowned for his remarkable comprehension of business and strategic affairs. He exhibits a keen ability to identify and tackle significant obstacles, and his expertise in these domains is highly esteemed.
Vendr has a 4.3 rating on Glassdoor, with 77% of employees recommending the company ttheir friends and 95% approving of the CEO. Employees appreciate the leadership’s mission, clear vision and values. Importantly, they feel that the leadership at Vendr is genuinely invested in their success. There is a general sense of motivation and excitement owing to the significant rapid growth of the start-up company. Employees express gratitude for the well-established infrastructure, software tools and support that is available to them.
The company is deeply devoted to facilitating future planning for its team members. They provide a 401k plan with a generous 4% match, enabling employees to save for their retirement with greater ease and support
They acknowledge the significance of prioritizing the physical well-being of their employees. Consequently, they provide an array of extensive healthcare plans, including medical, dental, and vision insurance, which are tailored to cater to diverse individual requirements.
The company emphasizes the value of flexibility and achieving a harmonious work-life balance. To support this, they offer unlimited paid time off (PTO), work-from-home (WFH) stipends and an annual company-wide shutdown period. Further, Vendr remains fully committed to providing assistance to employees and their families, irrespective of their unique family dynamics.
They ensure that all newly become parents, including those who have children through biological means, adoption, or foster care, are granted paid leave to cherish valuable moments and bond with their loved ones.
Lastly, Vendr places a strong emphasis on ensuring that its employees are fairly rewarded for their efforts. They offer salary and equity packages that are highly competitive, demonstrating recognition and appreciation for the valuable contributions made by each member of the team.
Priya Saiprasad holds the position of Partner at SoftBank Investment Advisers, with a specialization in growth-stage investments that intersect software and consumer technology. Her venture career began at Microsoft, where she played a key role as a founding member of the M12 venture fund. Following her tenure at Microsoft, Priya joined the Mayfield Fund, where she focused on investments in the software sector.
David O. Sacks is a Co-Founder and Partner at Craft Ventures. Prior to his role at Craft Ventures, he held various positions at Zenefits. With a track record spanning over two decades, David Sacks has achieved success as both a founder and investor, playing instrumental roles in the establishment and investment of renowned technology companies.
Matthew Daubert currently holds the position of Director of Engineering at Vendr. As a skilled web systems developer, he possesses a strong passion for creating valuable and enjoyable experiences for people. Matthew’s impressive background includes holding significant engineering roles in prominent companies, such as Leads Engineer and Network Engineer, which demonstrates his expertise and proficiency in the field. His extensive experience and dedication make him an invaluable asset in his role at Vendr, where he continues to drive innovation and deliver outstanding results.
Y Combinator is a renowned startup accelerator and seed fund based in Silicon Valley. Founded in 2005, Y Combinator provides early-stage startups with a combination of funding, mentorship, and resources to help them grow and succeed. Y Combinator has supported the development of numerous successful companies, including Vendr, Airbnb, Dropbox, Reddit, and DoorDash, among many others. Their engagement with Vendr began in 2019, after which Vendr continued to grow exponentially.
Craft Ventures is a venture capital firm that specializes in supporting and investing in early-stage technology startups. The firm was founded by a team of experienced operators and investors who have a track record of building successful companies themselves. Craft Ventures aims to assist founders in building great companies by providing capital, mentorship, and access to a network of resources. They focus on various sectors, including technology, software, consumer products, and more. They invested in Vendr in the year 2020.
SoftBank Vision Fund is one of the largest and most prominent technology-focused investment funds globally. Established by SoftBank Group Corp., the Vision Fund aims to fuel and accelerate the growth of transformative and innovative companies. By leveraging its extensive resources, industry connections, and strategic expertise, the SoftBank Vision Fund seeks to support companies with high potential for disruption and exponential growth.
- Placed in Built In’s Best Places to Work List (2023)
- Vendr Launches ‘Connect for a Cause’ Charity Auction. It Brings together Entrepreneurs and Sellers Together with CEOs and Financial Leaders Across the Country (2023)
- Vendr Launches Workflows, Bringing Unmatched Transparency, Speed, and Scalability to the Procurement Process (2023)
- Vendr Launches Explore to Help Companies Make Faster, Informed SaaS Purchases (2023)
- G2 awarded 3 Trust Badges to Vendr. Namely, Best Support, Leader and Easiest to Do Business with (2022)
- Acquired Blissfully, a renowned SaaS management platform (2022)
- Secures $150M in Series B Funding
News and Press Releases
- April 18, 2023: Decoding the Quarterly SaaS budget: Amid Economic Downturn, Vendr Report Provides Insights Into Software Purchases for Transparent Decision Making (Read)
- June 17, 2022: Vendr, Which Helps Companies Buy Software, Reaches $1 Billion Valuation (Read)
- February 24, 2022: Why This Venture Capital Firm Is Only Hiring Women in 2022 (Read)
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Torii is a prominent provider of SaaS Management solutions, driving innovation in the industry and empowering leading companies such as Instacart and Palo Alto Networks to streamline and automate their SaaS ecosystem. With its comprehensive platform, Torii offers a centralized management solution for SaaS applications.
Airbase is a highly regarded modern spend management platform designed specifically for businesses with 100 to 5,000 employees. It offers comprehensive features that enable companies to effectively control spending, expedite financial closing processes, and mitigate financial risk.
Tropic offers high-growth companies a streamlined solution for scaling without the complexities and time-consuming processes associated with managing SaaS vendors. With a team of skilled negotiators, Tropic brings about a revolution in the way organizations purchase SaaS, ensuring a more efficient and effective procurement process.
Vendr places a strong emphasis on cultivating a diverse and inclusive work environment where every individual’s voice is respected and appreciated. Their Pillars of Inclusion, which encompass psychological safety, supported communication, and active involvement, demonstrate their dedication to fostering diversity and inclusion throughout their operations. Vendr is committed to ensuring that all employees feel safe, heard, and actively engaged in their work.
Vendr has achieved a commendable Diversity and Inclusion rating of 4.2 out of 5 stars. This rating reflects the company’s strong commitment to fostering diversity, equity, and inclusion within its workplace. By prioritizing diversity and inclusion initiatives, Vendr has created an environment that values and respects individuals from various backgrounds and perspectives. The high rating demonstrates the company’s efforts to cultivate an inclusive culture where employees feel empowered and appreciated for their unique contributions.
In the beginning of this year, Vendr introduced “Connect for a Cause,” a charitable auction that provides sellers and entrepreneurs with the unique opportunity to bid on 60 minutes of dedicated time with CEOs and esteemed financial leaders. The objective is to assist the auction
winners in advancing their careers in 2023. Importantly, the entirety of the proceeds generated from this initiative is directed towards BUILD Boston, an organization that empowers local youth. By launching this initiative, Vendr demonstrates its unwavering commitment to fostering equitable opportunities for everyone, ensuring that all individuals have a fair playing field to achieve their goals and aspirations.