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CMS advises Cologne-based SaaS start-up Sastrify on USD 32 million Series B round of financing

26/05/2023

Cologne – Cologne-based SaaS start-up Sastrify has completed a Series B round of financing and raised a total of USD 32 million. In addition to new investors such as venture capital investors Endeit and Simon Capital, existing investors FirstMark Capital and Holtzbrinck Ventures also took part in this Series B financing round, along with venture debt financier TriplePoint Capital. Sastrify intends to use the additional capital to expand its global business, focusing on the US and Europe. It also aims to accelerate product development so that it can provide the best possible support for scale-ups, SMEs and enterprise customers.

A CMS team comprising lead partner Dr Malte Bruhns and Philipp Knopp advised Sastrify on all legal aspects of the transaction. Sastrify and the founding team led by Sven Lackinger and Maximilian Messing are both long-standing CMS clients. The team headed by Malte Bruhns advised Sastrify on a Series A round of financing in 2022, and on a seed financing round in 2021. Sven Lackinger and Maximilian Messing were also advised by CMS in 2017 when they sold their previous start-up, Evopark, to Scheidt & Bachmann.

Founded in 2020 in Cologne, Sastrify employs more than 160 people and now has offices in three countries. It operates a platform that provides companies with support around procuring and managing their software licenses. Sastrify’s platform enables customers to optimise the cost of their SaaS requirements and strengthens their negotiations with software firms.

CMS Germany

Dr Malte Bruhns, Partner
Philipp Knopp, Associate, both Corporate/M&A

Press Contact
presse@cms-hs.com

Related people

Portrait ofMalte Bruhns
Dr. Malte Bruhns, LL.M. (The University of Edinburgh)
Partner
Cologne
Portrait ofPhilipp Knopp
Philipp Knopp
Senior Associate
Cologne