Vendr, already profitable, raises $2M to replace your enterprise sales team –
Summary
In classic YC fashion, the company has created software to sell to other startups, and, as such, it was quick to gain the confidence of top venture capital investors. Headquartered in Boston, Vendr has raised a $2 million round led by F-Prime Capital, with participation from Ashton Kutcher’s Sound Ventures, Joe Montana’s Liquid2 Ventures, Garage VC and angel investors including Canva co-founder and chief operating officer Cliff Obrecht and HubSpot COO JD Sherman. “Vendr was created to allow people to transact software without actually having to talk to people.” Founded 14 months ago, Vendr has reached $1 million in annual recurring revenue, which, for context, has historically been amongst the benchmarks necessary for a SaaS startup to raise its Series A. Neu says the company is growing 15% month-over-month with monthly recurring revenue currently sitting at $96,500. “We want to be in a position where we can control our own destiny.” Vendr currently operates with a team of six employees and 19 customers, including Canva, Grammarly, GitLab, Brex, HubSpot and InVision. The company is also backed by Okta’s general counsel Jon Runyan, AppDynamics’ COO Dan Wright and YC partner Aaron Epstein.