Prior to Spendflo, co-founder Siddharth Sridharan used to work in the Bay Area and realized there was a lot of money being spent on SaaS. He ran business operations and was constantly getting feedback from the CFO about the money being spent. He realized that SaaS was now the second or third largest number on company balance sheets and it was becoming almost impossible to track and figure out how much was being spent on what.
Co-founder and CTO Ajay was also facing this at the company he was working for in Boston. He was trying to figure out how to make better decisions when deciding between two similar vendors and realized around the same time that engineers like him were also trying to figure this out.
When co-founder Rajiv Ramanan, who ran startup partnerships for Freshworks, joined them, he was also thinking about the same problem.
They took this opportunity to create a quick MVP - a dashboard that would show companies what they were spending on, how much they were spending on, and how Spendflo could optimize it for them. Spendflo aims to deliver savings and efficiency for the company while at the same time reducing CACs for the vendors too, connecting them to companies with high intent.
When they ended up saving over $200K for their first customer, they knew the MVP was working, and that they had a product that could solve a genuine problem. The customer started paying them a subscription and off they went.
The backgrounds they come from also gives them a distinct advantage. Siddharth’s experience showed him the way to this space and in confirming that this was a large market. Rajiv’s experience in partnerships for Freshworks gave him a front seat to the SaaS explosion, which was when he understood what could be built in this space.
In all, Spendflo believes their competitive advantage is the team they have put together and the new people that are coming on board. And they are ready for the remote-first world.
If you are a very early stage startup, we are waiting for you to apply. Atoms is meant for you.
Please note that we will be closing applications on March 15th, 2022. Applications arriving after this date will only be considered for the cohort after.