Sweden-based Xensam ends its bootstrapping streak; raises €37.1M

The previously bootstrapped company Xensam plans to allocate the capital towards AI product development and expanding its operations in the United States and Europe. Gustav Fösker, co-founder and CTO of Xensam, says, “By pioneering AI from the start, we’ve transformed SAM for hundreds of companies, making it user-friendly and removing manual work.” “With the new funding, we can continue to innovate the platform with more advanced features, including a ChatGPT-inspired chatbot that will enhance its accessibility and user experience.” The investment came from Expedition Growth Capital, a London-based software-focused growth equity firm. Xensam’s platform uses a perpetual agent to identify numerous applications, both SaaS and on-premise, offering a clear organisational overview in hybrid settings. Xensam’s co-founder, Oskar Fösker says, “We founded Xensam to provide an intuitive platform for software asset management and resource optimisation by leveraging AI and automation.” “Since then, we have grown over 126 per cent year-on-year and demonstrated how innovative, scalable and user-centric technology can deliver exceptional value to customers.” “We’re thrilled to partner with Expedition Growth Capital to help fuel the next phase of our expansion,” adds Fösker. Xensam boasts over 200 customers, including names such as Polestar (Volvo-owned electric car leader), Northvolt (battery manufacturer), and Jabil (F500 supply chain giant).