SYDNEY - Wednesday, April 13: Hudled, a SaaS intelligence platform enabling high-growth startups to manage their full SaaS lifecycle, has today surpassed US$100 million of software as a service (SaaS) spend managed on their platform.
Almost three hundred companies have signed up to the platform, including high-growth scale-ups like Airwallex, Eucalyptus, and Mr Yum, to better understand SaaS spending. As a result, Hudled has built a SaaS intelligence engine that eliminates SaaS overspend, bringing a positive ROI from day one.
SaaS waste is a common reality for scaling companies. One of the hard lessons many growing companies learn is that SaaS can quickly run up a large bill. Finance teams often know their company overpays for software but underestimate how many tools their company pays for and how much money is wasted.
“We found that companies underestimate their SaaS spend by over 27%. That’s a substantial amount they’re not taking into account. Combine this with growing headcount, unstructured purchasing, and opaque pricing plans, the whole thing becomes a disaster,” Hudled Co-Founder Santiago Bravo said.
To maximise the value of every SaaS tool, Hudled is pioneering a data-driven approach to tackle SaaS waste and inefficiencies. The US$100 million milestone has accelerated the development of the company’s SaaS intelligence platform.
Today, to coincide with this achievement, Hudled is also officially launching a new SaaS audit feature. The auditing tool lets users - typically founders, CFOs, finance professionals, and anyone in charge of a company’s SaaS stack - get deeper SaaS analytics and saving opportunities. The audit brings intelligence to three facets of SaaS: buying the right tools at the right price, using a data-driven approach for decision-making, and engaging people to get the most out of SaaS.
Data compiled by Hudled reveals how easy it is to overspend on SaaS. The average startup amongst Hudled’s customers (10 to 250 employees) has 67 SaaS tools in its stack, spending on average $462k on SaaS each year. Interestingly, around 17.9% of SaaS is also being paid in a foreign currency.
“By implementing small changes during the early stages of the startup, the benefits of the SaaS audit compound - particularly when the company headcount grows from single, to double, to triple digits. The feature can be very powerful for finance teams, who can redeploy capital for other growth priorities,” Hudled co-founder Alex Millar said.
The feature already shows great promise, with an average of US$9,441 of savings identified per audit. Several Hudled customers, including Simply Wall St, Legal Vision, Mad Paws, and Upflowy, have already integrated Hudled’s data-driven saving recommendations. Companies interested in using Hudled’s SaaS audit can do so on their platform.
Processing over US$100 million of SaaS is just the first part of solving SaaS waste. Hudled’s growing customer base means that they’re on their way to reaching the next milestone of US$1 billion of SaaS under management.
Hudled’s SaaS Intelligence Platform enables finance teams in high-growth startups to eliminate SaaS overspend and manage the full lifecycle of their SaaS stack. Their data-science approach enables companies to get the most value from their SaaS. Hudled is now widely available, amassing nearly three hundred companies on its platform. Access our media kit and press release PDF.