Xensam, bootstrapped for 8 years, secures $40M funding

The Stockholm-based Xensam has recently supercharged its growth engine with a $40M investment, marking its first external funding round since its inception eight years ago.

• AI-Powered Software Management: At the heart of Xensam's product offering is an AI-driven suite of tools designed to provide businesses crystal-clear visibility into their software usage, optimizing both cost and compliance across the digital landscape.

• Funding and Future Plans: This financial boost, courtesy of Expedition Growth Capital in London, is set to catalyze Xensam's expansion into the U.S. market and reinforce its team, which proudly stands at 100 strong.

• Founders' Vision: Oskar Fösker, Xensam's CEO and co-founder, alongside his brother Gustav, the CTO, maintains majority ownership post-funding. Their vision is to seamlessly track a company's sprawling software licenses, which is essential in a landscape where enterprise software spending is nearing a staggering $900B globally.

• Customer Base and Growth: With 200 customers, including recognizable names like Volvo's Polestar and Northvolt, Xensam is riding the high wave with an impressive 126% annual growth in recurring revenues, while discreetly keeping actual revenue figures under wraps.

Aware of the pitfalls of rapid scaling, the Fösker brothers sought a culturally aligned investor. Xensam's strategic partnership with Expedition Growth Capital reflects a shared ethos, ensuring the company scales without sacrificing its unique culture.