Cledara raised $20M to help companies control SaaS subscriptions

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©  Cledara

Cledara is a UK-based software management platform founded in the company of CommerzVentures. This startup recently received $20M in Series A funding, with participation from Carbide Ventures and Massive. Previous investors Notion Capital and Nauta Capital also participated in the funding round.

The companies explosive growth in the US is what prompted their recent funding. Their second-largest market is also their fastest growing; in March, Cledra announced their US presence, and since then, the US market has seen 35% monthly growth.

Manage Software Subscriptions

Cledara was started in 2018 by Cristina Vila and Brad van Leeuwen. The company name comes from taking control of their increasing software subscriptions.

Cledera Inc. was founded by Cristina Vila as a result of her lifelong dream to start a company that helps people. As CEO and founder, Vila says her company’s focus is on “empowering growing companies to buy, discover and manage the software they use.” By doing this, the company believes they are giving companies the ability to focus their time on what matters most: their employees and customers.
By mixing payment capabilities with effective software tools, this Denver-based company is able to better serve their customers, obey regulations and manage teams more effectively.

830% Growth

The startup increased its software sales volume by 830% in the last year. This increase was because of several customers in the tech industry, including the newest unicorn insurance company in the UK, Marshmallow; the mapping startup what3words; and the data streaming platform Conduktor.

Cledara provides credit and debit cards through the Mastercard network. In 2021, they were accepted into the Mastercard Start Path program. Additionally, the company was featured in the FinTech50 ranking in 2020, which ranked the 50 most promising fintech startups. Because of this, Cledara is one of the few fintechs able to service customers in the United States, United Kingdom and 28 European countries.

CommerzVentures Managing Partner Paul Morgenthaler praises Cledara Technologies’ founders Cristina and Brad. He says their company is freeing businesses around the world to use software that works best for them. Furthermore, he states that Cledara’s product is perfectly timed due to recent market winds focusing on efficiency. Additionally, his statement says that the huge growth rate is proof of the value it provides. Morgenthaler says he’s looking forward to seeing what lies ahead for Cledara as a global SaaS player.

Pankaj Tibrewal, a partner at Carbide Ventures, said they haven’t seen any other company match Cledara Software’s ability to organize large amounts of data. Cledara’s software is considered a huge problem that has a high potential in the United States, according to Tibrewal. He said he was thrilled to be involved in Cledara’s Series A funding round.

They currently have offices in Denver, London and Barcelona. They’re currently hiring for sales, marketing, operations and tech positions in the US.


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