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Xensam Raises $40M for AI Software Asset Management
After eight years of bootstrapping, Xensam has finally acquired $40 million for AI software asset management. The funds will be used to advance the company's AI technology stack, expand employment, and enter the American market. Xensam serves 200 clients, with recurring revenue increasing at a rate of 126% every year.
The competitive field of software access management is highly profitable due to the significant and multifaceted issue it addresses. By using AI to comprehensively track and understand software usage, Xensam has positioned itself as a leader in the industry, serving both cloud and on-premise contexts.
With Expedition Growth Capital as the first outside investor, Xensam's founders prioritize a strong company culture while focusing on growth. The investment will enable the release of further products and continued expansion for the Stockholm-based firm.
Oliver Thomas, managing partner at Expedition Growth Capital, applauds Xensam as one of the most impressive European growth companies, showcasing its vital solutions that help large enterprises track, monitor, and control software usage.