Tackling the problem of companies overspending on software, Hudled has hit US$100 million worth of software as a service (SaaS) spend managed on the platform.

Nearly 300 companies have now registered with the platform, including high-growth tech companies like Airwallex, Eucalyptus, and Mr Yum. Hudled allows them to track and optimize their software stack, reducing ROI spending from day one,” said Co-founder Alex Millar

The benchmark comes just 12 months after the Hudled solution launched in April 2021.

Millar said data compiled by Hudled reveals the average startup (10-250 employees) using the platform has 67 SaaS tools in its stack, spending on average $462,000 annually, with nearly a fifth (17.9%) of SaaS being paid in a foreign currency. An average US$9,441 in savings has been found per audit.

“By implementing small changes during the early stages of the startup, the benefits of the SaaS audit compound – particularly when the company headcount grows from single, to double, to triple digits,” he said.

“The feature can be very powerful for finance teams, who can redeploy capital for other growth priorities.”

It’s co-founder Santiago Bravo said several customers, including Simply Wall St, Legal Vision, Mad Paws, and Upflowy, integrated Hudled’s data-driven saving recommendations. 

“We found that companies underestimate their SaaS spend by over 27%,” he said.

“That’s a substantial amount they’re not taking into account. Combine this with growing headcount, unstructured purchasing, and opaque pricing plans, the whole thing becomes a disaster.”

A year after its launch, Hudled released a new SaaS auditing tool that allows users — typically founders, CFOs, finance professionals, and anyone responsible for a company’s SaaS stack — to gain deeper SaaS analytics and savings opportunities

Hudled emerged from the Antler program in 2020. Investors in the startup include Black Nova Group, Antler, Sydney Angels and Justus Hammer, founder of MadPaws.