Stockholm-based technology firm Xensam has successfully secured $40 million in growth funding, marking a significant milestone in its journey to revolutionize software asset management. The investment, led by Expedition Growth Capital, underscores the growing demand for AI-powered solutions in the tech industry.
Founded in 2016 by brothers Oskar Fösker, CEO, and Gustav Fösker, CTO, Xensam specializes in providing innovative software assessment management solutions. Its flagship AI-powered SaaS platform offers enterprises worldwide a comprehensive suite of tools to optimize software usage, enhance security, and reduce costs.
The infusion of capital will enable Xensam to further bolster its AI product development initiatives and facilitate the expansion of its operations across the United States and Europe. This strategic move aligns with the company’s vision to deliver cutting-edge technology that addresses the evolving needs of its global clientele.
Commenting on the funding round, Oskar Fösker expressed his excitement about the partnership with Expedition Growth Capital, emphasizing Xensam’s commitment to delivering exceptional value to its customers. He stated, “We founded Xensam to provide an intuitive platform for software asset management and resource optimization by leveraging AI and automation. Since then, we have grown over 126% year-on-year and demonstrated how innovative, scalable, and user-centric technology can deliver exceptional value to customers.”
Xensam’s cloud-based platform stands out for its ability to optimize software usage, identify security vulnerabilities, and eliminate unnecessary spending on underutilized applications. With a robust suite of features, including detailed application tracking, cost analysis, and seamless integrations with various software platforms, Xensam empowers businesses to streamline their software management processes effectively.
Notably, Xensam serves a diverse clientele comprising over 200 customers, including prominent industry players such as Polestar, Northvolt, and Jabil. Its Security Centre offers a comprehensive overview of potential compliance issues and security risks, contributing to the mitigation of security breaches and ensuring regulatory compliance.
The company’s commitment to simplicity and transparency is reflected in its pricing model, which offers a single package encompassing all proprietary features. Moreover, Xensam’s impressive track record, highlighted by a 950% average return on investment (ROI) and top ratings on platforms like Gartner and Capterra, further underscores its value proposition in the market.
As organizations worldwide continue to prioritize efficiency and security in their software management practices, Xensam remains poised to lead the charge with its innovative AI-driven solutions. With the backing of Expedition Growth Capital and a steadfast dedication to customer-centric innovation, Xensam is well-positioned to shape the future of software asset management on a global scale.