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Bootstrapped for 8 years, Xensam now has snapped up $40M for AI that manages software assets
Software asset management -- an area of enterprise IT designed, in part, to help companies save money -- continues to draw a lot of money itself. In the
In the latest development, Xensam — a startup out of Stockholm that provides AI-based tools to help businesses understand and track where and how software is being used — has raised $40 million, its first outside funding since being founded eight years ago. Oskar Fösker, Xensam’s CEO who co-founded the company with his brother Gustav (the CTO), said it will be used to continue developing its AI technology stack, to hire more people (it’s now at 100 employees) and to break into the U.S. market. The two founders previously worked at another company called Snow Software, a big name in this space, which was scaling fast but losing pace, in their opinion, when it came to cutting edge developments, such as the use of AI to better track SaaS usage.
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