Xensam, the leading technology provider of AI-powered Software Assessment Management (SAM), is thrilled to announce a successful $40 million growth funding round led by Expedition Growth Capital. The investment marks a significant milestone for Xensam, empowering the company to intensify its focus on AI product development and extend operations across the United States and Europe.
Oskar Fösker, co-founder, and CEO of Xensam expressed his excitement about the partnership with Expedition Growth Capital, stating, “We founded Xensam to provide an intuitive platform for software asset management and resource optimization by leveraging AI and automation. We’re thrilled to partner with Expedition Growth Capital to help fuel the next phase of our expansion.”
Gustav Fösker, co-founder, and CTO of Xensam, highlighted the company’s commitment to innovation, saying, “By pioneering AI from the start, we’ve transformed SAM for hundreds of companies, making it user-friendly and removing manual work. With the new funding, we can continue to innovate the platform with more advanced features, including a ChatGPT-inspired chatbot that will enhance its accessibility and user experience.”
Founded in 2016 in Stockholm by brothers Oskar Fösker, CEO, and Gustav Fösker, CTO, Xensam envisions simplifying and automating SAM through proprietary AI. The platform provides an intuitive interface allowing IT executives and stakeholders to gain precise insights into user interactions with applications across digital infrastructures, leading to significant cost and efficiency savings.
Expedition Growth Capital’s founder and managing partner, Oliver Thomas, expressed their enthusiasm for supporting Xensam’s growth journey, stating, “Xensam is one of the most impressive European growth companies we’ve come across. We’re delighted to be working closely with the company as their first external investors and look forward to being a part of their growth journey.”
Xensam’s platform, equipped with a perpetual agent, can identify hundreds of thousands of applications, whether SaaS or on-premise, offering a comprehensive organizational overview across hybrid environments. The platform’s Security Centre further enhances its capabilities by providing insights into compliance issues and security vulnerabilities, reducing the risk of security breaches.
The SaaS market’s rapid expansion has resulted in a surge of software tools utilized by organizations of all sizes. Xensam addresses this challenge by offering innovative Software Asset Management (SAM) solutions, empowering businesses to manage applications, optimize resource usage, identify overspending, and maintain compliance.
Xensam AB, headquartered in Stockholm, Sweden, is a leading technology provider in software asset management, offering an AI-powered SaaS platform. With a unique approach to software normalization, Xensam has established itself as the complete SAM platform for hybrid environments. The company, founded by Oskar Fösker (CEO) and Gustav Fösker (CTO) in 2016, has experienced remarkable growth, currently serving enterprises worldwide with a local presence in the UK, the US, and across Europe.