London-based Vertice, “a spend optimisation” platform that promises to save companies up to 25% on their SaaS and cloud bills, has seen its revenue grow 13x in two years. Today it tops the 2025 edition of the Sifted 100: UK and Ireland leaderboard.
Vertice targets procurement and finance managers with tools that give alerts on “maverick spend” within companies and provide “real time” SaaS pricing benchmarks.
“I kept encountering the same problems wherever I went: companies taking on more tools, which meant more sprawl, more cost. For a lot of companies, software is the second largest expenditure after payroll,” says Eldar Tuvey, who started Vertice with his brother Roy in 2021.
The Tuvey brothers, who are joint CEOs, have found success with a deceptively simple idea. Customers give Vertice their contracts and invoices, “we suck all this information up and tell them what they paid in previous years and when they’re renewing,” says Tuvey.
This would be valuable enough for most large companies that struggle for oversight on their bills. But there’s an added service: because Vertice captures a wide range of data, across industries, it can compare vendors on pricing and discounting and pass these insights on to customers. “We know the Microsofts and the other vendors because we’re dealing with them several times a week, whereas the average company deals with them once a year,” Tuvey says.
Vertice says it’s been entrusted with $3.4bn worth of SaaS and cloud expenditure from procurement and finance leaders. Clientele include chip giant ASML, trading house Euronext, accountancy firm Grant Thornton and banking group Santander.
Vertice’s rapid growth convinced investors to pile into a $50m Series C round in January. Vertice has now raised just over $100m and aims to list as a public company in a few years, Tuvey says. “We have a chance to build a breakout business here.”
‘We’re not an AI company’
This is the Tuvey brothers’ third company — the siblings have previously sold cybersecurity businesses to software giants Cisco and Jamf (for $200m and $400m respectively).
Vertice tops these efforts, by some distance, says Tuvey. “What took us 10 years to achieve in revenue growth in our previous businesses, we did in two-and-a-half years here.” Vertice has grown to 250 people worldwide with offices in New York, Sydney, Brno and Singapore.
“We found product-market-fit easily,” Tuvey explains, “whereas we had to pivot a bunch of times in our old businesses. With Vertice, we got it right from day one: after we put out the first press release, we found a customer that afternoon in Singapore.”
While Vertice uses AI to help ingest stacks of documents, it doesn’t call itself an AI company. “We don’t want to pretend to be something more than we are,” says Tuvey. “We have been training models to find anomalies in spend, using AI that exists already. But we’re not trying to hide behind jargon, we’re not trying to over-complicate things.”
Tuvey says it’s a relief having a sibling to help run things. “Cofounders have different egos and needs and you both may struggle to stay in sync as the years go by.
“We find that we can trust each other implicitly. I don’t need to worry if he’s undermining me; there’s no competition between us. He’s someone I can rely on and I don’t worry about losing face in front of him.”
Read the orginal article: https://sifted.eu/articles/why-vertice-is-the-uks-fastest-growing-startup/
